Cooperton Mining just announced it will cut its dividend from $4.00 to $2.50 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.0% rate, and its share price was $50.00. With the new expansion, Cooperton's dividends are expected to grow at a 5.0% 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? s%. (Round to two decimal places.) The equity cost of capital is Halliford Corporation expects to have earningss this coming year of $3.00 per share. Halliford plans to retain all of its earnings for the next two years. For the subsequent two years, the firm will retain 50% of its arions It will then retain 20% of its earnings from that point onward. Each year, retained earnings will be invested in new projects with an expected return of 25.00% per year. Any earnings that are not retained will be paid out as dividends. Assume Halliford's share Count remaine and all earnings growth comes from the investment of retained earnings. If Halliford's equity cost of capital is 10.0%, what price would you estimate for Halliford stock? Note: Remenber that growth rate is computed as: retention rate x rate of return. The price per share is $ (Round to the nearest cent.)