Please someone kind enough answer this Finance question? thanks!?
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: