E$-$Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $$16$ in perpetuity, beginning $7$ years from now.

If the market requires a $12$ percent return on this investment, how much does a share of preferred stock cost today?

Multiple Choice

$$133\mathrm{.}33$

$$70\mathrm{.}93$

$$67\mathrm{.}55$

$$64\mathrm{.}17$

$$60\mathrm{.}31$