Hershey's preferred stock is selling at $$54$ on the market and pays an annual dividend of $$4\mathrm{.}20$ per share.

i$.$ What is the expected rate of return on the stock?

ii$.$ If an investor's required rate of return is $9\%,$ what is the value of the stock for that investor?

iii. Considering the investor's required rate of return, does this stock seem to be a desirable investment?