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Business, 24.06.2019 23:30 mjessen119

Jrn enterprises just announced that it plans to cut its dividend from $ 2.25 to $ 1.10 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:

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Jrn enterprises just announced that it plans to cut its dividend from $ 2.25 to $ 1.10 per share and...
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