Needing to raise more capital, you advised the board to issue more shares of preferred stock. The dividend is $5.90 every year, not increasing, in perpetulty. Your investors require a rate of retum of 7,32%. a. What is the current price? (Do not round intermediate calculations and enter your answer as a dollar amount rounded to 2 decimal places, e.g. 12.34.) Current price b. What formula did you use to solve this problem in parta? (Write the number of the formula from your formula sheet) 6. Formula number