E-Eyes.com just issued some new 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 Intermedlete caleuletlons and round your onswer to 2 declmal places, e.g., 32.16.)