Question: please do it correctly Cooperton Mining just announced it will cut its dividend from $3.88 to $2.49 per share and use the extra funds to

please do it correctly

Cooperton Mining just announced it will cut its dividend from $3.88 to $2.49 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.3% rate, and its share price was $50.92. With the planned expansion, Cooperton's dividends are expected to grow at a 4.8% rate. What share price would 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.)

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