Sunkwa Inc. just issued some new preferred stock. The issue will pay annual dividend of $13.20 per share in perpetuity, beginning 8 years from today. No dividend will be paid in the first 7 years. If the market requires a return of 7.43 percent on this investment, how much should a share of this preferred stock cost today?

Group of answer choices

$177.66

$107.57

$116.92

$146.31

$100.13