SRN Enterpises just announced that it plans to cut its next-year dividend, D1, from $3.00 to $1.40 per share and use the extra funds to expand its operations. Prior to this arincuncement, JRN's dividends were expected to grow at 3% per year and JRN's stock was trading at $26.00 per share. Weh the new expension, JRN's dividends are expected to grow at 6% per yoar indefinitely Assuming that JRN's risk is unchanged by the expansion, the value of a share of JRN afer the announcement is closest to: A. $35.14 B. $26.00 C. $16.40 D. $12.13