Question: KI just announced that it will cut its dividend from 3.00 to 2.50 per share and use the extra funds to expand its operations.KI's dividends

KI just announced that it will cut its dividend from 3.00 to 2.50 per share and use the extra funds to expand its operations.KI's dividends were expected to grow at a 2% rate, and its share price was 37.50.With the new expansion, KI's dividends are expected to grow at a 7.5% rate.

Compute KI's share price following this announcement.

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