Miller Brothers Hardware paid an annual dividend of $1.80 per share last month. Today, the company announced that future dividends will be increasing by 3.20 percent annually. If you require a 9.5 percent rate of return, how much are you willing to pay to purchase one share of this stock today?

a) $27.69

b) $56.25

c) $58.05

d) $29.49

e) $31.29