An analyst has gathered the following information for a preferred stock and a common stock issued by the same company: Par value of the preferred stock (per share) $25 Dividend rate for preferred stock 7% Required rate of return on preferred stock 11% Last dividend paid on common stock (per share) $2.50 Constant growth rate for common stock dividends 5% Beta for the common stock 1.65 Risk-free rate of return 4.5% Expected return on the overall market 10.5% Required: Determine the current value per share of both the preferred and common stock of this company