JRN Enterprises just announced that it plans to cut its dividend from $5.80 to $4.60 per share and use the extra funds to expand its operations. Prior to this announcement, JRN's dividends were expected to grow at 3.30% per year and its stock was trading at $124 per share. With the new expansion, JRN's dividends are expected to grow at 6.20% per year. Assuming that JRN's risk is unchanged by the expansion, what is the value of a share of JRN after the announcement? $193.20 $124.00 $258.80 $214.74 $172.52