Cooperton Mining just announced it will cut its dividend

from$$3\mathrm{.}91$to$$2\mathrm{.}58$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$$48\mathrm{.}97.$With the planned$$expansion$,$ Cooperton's dividends are

expected to grow at a$4\mathrm{.}7\%$rate. What share price would you expect after

the$$announcement$?($Assume that the new expansion does not

change$$Cooperton$\text{'}$s risk.$)$ Is the expansion a

good$$investment$?$The new price for$$Cooperton$\text{'}$s stock will be$$$$($Round to the nearest$$cent$.)$