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Score: 0 of 12 pts 8 of 10 (1 complete) HW Score: 9%, 10.8 of 120 P 7-17 (similar to) Question Help Cooperton Mining just announced it will cut its dividend from $4.12 to $2.61 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.2% rate, and its share price was $49.57. With the planned expansion Cooperton's dividends are expected to grow at a 48% 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)