Cooperton Mining just announced it will cut its dividend from $$4\mathrm{.}05$ to $$2\mathrm{.}27$ per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were

expected to grow at a $3\mathrm{.}4\%$ rate, and its share price was $$51\mathrm{.}81.$ With the planned expansion, Cooperton's dividends are expected to grow at a $4\mathrm{.}9\%$ 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 $$.($Round to the nearest cent.$)$

Is the expansion a good investment? $($Select from the drop$-$down menu.$)$

a good investment.