Michael's, Inc. just paid $2.50 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.40 percent. If you require a rate of return of 9.6 percent, how much are you willing to pay today to purchase one share of Michael's stock?

	$65.24
	$17.57
	$27.45
	$62.74
	$31.37