Fifth National Bank just issued some new preferred stock. The issue will pay an annual dividend of $25 in perpetuity, beginning 14 years from now. If the market requires a return of 3.9 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.) 19 points Stock price $ 389.83 eBook Print References