Cooperton Mining just announced it will cut its dividend from $4.24 to $2.34 per share and use the extra funds to expand Prior to the announcement, Cooperton's dividends were expected to grow at a 3.1% rate, and its share price was $51.93. With the new expansion, Cooperton's dividends are expected to grow at a 4.9% rate. What share price would you expect after the announcement? (Assume Cooperton's risk is unchanged by the new expansion.) Is the expansion a positive NPV investment? What share price would you expect after the announcement? The equity cost of capital is %. (Round to two decimal places.)