JRN Enterprises just announced that it plans to cut its next-year dividend, D1, from $3.00 to $1.00 per share and use the extra funds to expand its operations. Prior to this announcement JRN's dividends wore expected to grow at 4% per yeat and JRN's slock was trading at $26.00 per share. With the new oxpansion, JRN's dividends are oxpected to grow at 8% per year indefinitely. Assuming that JRN's risk is unchanged by the expansion, the valio of a share of JRN after the announcement is closest to: A. $8.67 B. $2600 C. 51327 D. $39Bo