This Question: 1 pt 11 of 25 (5 complete) This Test: 25 pts possible JRN Enterprises just announced that it plans to cut its next-year dividend, Dy, from $2.75 to $1.20 per share and use the extra funds to expand its operations. Prior to this announcement, JRN's dividends were expected to grow at 4% per year and JRN's stock was trading at $25.00 per share. With the new expansion, JRN'S dividends are expected to grow at 8% 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. $39.29 O B. $25.00 O C. $10.91 O D. $17.14