What is the value (today's price) of a preferred stock that pays an annual dividend of $3.50

Question:

What is the value (today's price) of a preferred stock that pays an annual of $3.50 when the required rate of return is 8.5 percent? What is the value when the required rate of return changes to 6 percent and 11.5 percent, respectively?
Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...