Cooperton Mining just announced it will cut its dividend from $$3\mathrm{.}88$ to $$2\mathrm{.}59$ per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends wereCX Enterprises has the following expected dividends: $$1\mathrm{.}03$ in one year, $$1\mathrm{.}18$ in two years, and $$1\mathrm{.}25$ in three years. After that, its dividends are expected to grow at $4\mathrm{.}4\%$ per year

forever $($so that year $4\text{'}$s dividend will be $4\mathrm{.}4\%$ more than $$1\mathrm{.}25$ and so on$).$ If CX$\text{'}$s equity cost of capital is $11\mathrm{.}6\%,$ what is the current price of its stock?

The price of the stock will be $$.($Round to the nearest cent.$)$

expected to grow at a $3\mathrm{.}1\%$ rate, and its share price was $$48\mathrm{.}96.$ With the planned expansion, Cooperton's dividends are expected to grow at a $4\mathrm{.}7\%$ rate. What share price woul

you expect after the announcement? $($Assume that the new expansion does not change Cooperton's risk.$)$ Is the expansion a good investment?

The new price for Cooperton's stock will be $$.($Round to the nearest cent.$)$