E$-$Eyes.com just issued some new $20/20$ preferred stock. The issue will pay an annual dividend of $$28$ in perpetuity, beginning $17$ years from now. If the market requires a return of $4\mathrm{.}2$ percent on this investment, how much does a share of preferred stock cost today? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$ Please provide step$-$by$-$step.