Michael's, Inc. just paid $2.05 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 4.50 percent. If you require a rate of return of 8.7 percent, how much are you willing to pay today to purchase one share of Michael's stock? O $51.01 O $25.50 O $16.23 O $24.62 O $53.06