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E - Eyes.com just issued some new 2 0 / 2 0 preferred stock. The issue will pay an annual dividend of $ 2 8

E-Eyes.com just issued some new 20/20 preferred stock. The issue will pay an annual dividend of $28 in perpetuity, beginning 17 years from now. If the market requires a return of 4.2 percent on this investment, how much does a share of preferred stock cost today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.) Please provide step-by-step.
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