Hooks Athietics, inc, has outstanding a preferred stock with a par value of $30 that pays a dividend of $2.00. The preferred stock is refeemable at the option of the stockholder in 10 years at a price equat to $30. The stock may be called for redemption by the company in 15 years at a price of $31. (Any stock that is not redeemed at the end of 10 years can be expected to be calied by the company in 15 years.) If you know that investors require a 11 percent pretak rate of return on this prefered stock; what is the current market value of this preferred stock? Use Table It and Table iv to answer the question. Round your answer to the nearest cent, 5 Hooks Athietics, inc, has outstanding a preferred stock with a par value of $30 that pays a dividend of $2.00. The preferred stock is refeemable at the option of the stockholder in 10 years at a price equat to $30. The stock may be called for redemption by the company in 15 years at a price of $31. (Any stock that is not redeemed at the end of 10 years can be expected to be calied by the company in 15 years.) If you know that investors require a 11 percent pretak rate of return on this prefered stock; what is the current market value of this preferred stock? Use Table It and Table iv to answer the question. Round your answer to the nearest cent, 5