JRN Enterprises just announced that it plans to cut its dividend from $ $2\mathrm{.}25$ to $ $1\mathrm{.}2$ per share and use the extra funds to expand its operations. Prior to this$$ announcement, JRN$\text{'}$s dividends were expected to grow indefinitely at $4\%$ per year and$$ JRN$\text{'}$s stock was trading at $ $24\mathrm{.}5$ per share. With the new$$ expansion, JRN$\text{'}$s dividends are expected to grow at $8\%$ per year indefinitely. Assuming that$$ JRN$\text{'}$s risk is unchanged by the$$ expansion, the value of a share of JRN after the announcement is closest to$$