E$-$Eyes.com just issued some new preferred stock. The issue will pay an annual dividend of $$20$ in perpetuity, beginning $6$ years from now.

If the market requires a $7$ percent return on this investment, how much does a share of preferred stock cost today?

Multiple Choice

$$190\mathrm{.}38$

$$285\mathrm{.}71$

$$203\mathrm{.}71$

$$193\mathrm{.}52$

$$213\mathrm{.}90$