Michael’s, Inc. just paid $2.65 to its shareholders as the annual dividend. Simultaneously, the comp… Show more Michael’s, Inc. just paid $2.65 to its shareholders as the annual dividend. Simultaneously, the company announced that future dividends will be increasing by 5.70 percent. If you require a rate of return of 9.9 percent, how much are you willing to pay today to purchase one share of Michael’s stock? $69.34 $33.35 $28.29 $66.69 $17.96 • Show less