THC Endowment is an institutional investor and owns preferred stocks worth a $20\%$ stake in Shoe Building Inc. Shoe Building Inc. paid out dividends of $$252,000$ to THC Endowment this year. Shoe Building Inc. had issued perpetual preferred stock with a par value of $$100$ and pays a$($n$)12\mathrm{.}00\%$ annual dividend. Investors$$ required return on Shoe Building Inc.$$s preferred stock is $16\mathrm{.}08\%,$ and the tax rate for both the companies is $25\%.$ Based on the information given, calculate the following: The current market price of Shoe Building Inc.$$s preferred stock is:THC Endowment tax liability on its dividend income will be: