Cooperton Mining just announced it will cut its dividend from $$3\mathrm{.}98$ to $$2\mathrm{.}41$ per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a $3\mathrm{.}5\%$ rate, and its share price was $$48\mathrm{.}36.$ With the planned expansion, Cooperton's dividends are expected to grow at a $4\mathrm{.}8\%$ 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 $$40\mathrm{.}17.($Round to the nearest cent.$)$

My answers are incorrect.