Michael's, Incorporated, just paid $1.95 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 4.3 percent. If you require a rate of return of 8.5 percent, how much are you willing to pay today to purchase one share of the company's stock? Multiple Choice $23.93 $50.38 $15.89 $48.43 $24.21