$($Preferred stock valuation$)$ Pioneer's preferred stock is selling for $$26$ in the market and pays a $$2\mathrm{.}60$ annual dividend.

a$.$ If the market's required yield is $11$ percent, what is the value of the stock for that investor?

b$.$ Should the investor acquire the stock?

a$.$ The value of the stock for that investor is $

per share. $($Round to the nearest cent.$)$