1 Ullal ) Question Help Cooperton Mining just announced it will cut its dividend from $4.11 to $2.28 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.4% rate, and its share price was $50.57. With the planned expansion. Cooperton's dividends are expected to grow at a 4.5% 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.)