Molen Inc. has an outstanding issue of perpetual preferred stock with an annual dividend of $$3\mathrm{.}90$ per share. If the required return on this preferred stock is $7\mathrm{.}5\%,$ then at what price should the stock sell?

Group of answer choices

$$49\mathrm{.}92$

$$62\mathrm{.}40$

$$52\mathrm{.}00$

$$48\mathrm{.}37$

$$55\mathrm{.}90$