JRN Enterprises just announced that it plans to cut its next-year dividend, Dr. from $2.50 to $1.30 per share and use the extra funds to expand its operations. Prior to this announcement, JRN's dividends were expected to grow at 3% per year and JRN's stock was trading at $26.00 per share. With the new expansion, URN'S dividends are expected to grow at 6% per year indefinitely. Assuming that JRN's risk is unchanged by the expansion, the value of a share of JRN after the announcement is closest to O A $26.00 OB $37.79 OG. $19.65 OD. $13.52