Michael's, Incorporated, just paid $2.20 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 4.8 percent. If you require a rate of return of 9 percent, how much are you willing to pay today to purchase one share of the company's stock? Multiple Choice $27.45 $16.71 $57.10 $54.90 $25.62