The Jones Company has decided to undertake a large project. Consequently, there is a need for additional funds. The financial manager plans to issue preferred stock with a perpetual quarterly dividend of $2 per share and a par value of $36. If the required return on this stock is currently 8.3 percent, what should be the stock's market value? $99.39 $96.39 $102.39 $93.39 $105.39