ABC Trading is considering issuing additional preferred and common shares to raise capital

in order to modernize its factory. Their preferred shares currently pay an annual dividend of $$9\mathrm{.}25$

per share, with investors requiring a return of $8\%.$ Their common stock paid a dividend of $$5\mathrm{.}00$

per share last year and it is expected that earnings and dividends will grow by $20\%$ for the next

three years before dropping to a constant rate of $10\%$ thereafter. The required rate of return for

common shareholders is $15\%.$

Required: Determine the current price of the company$$s preferred and common shares