Cooperton Mining just announced it will cut its dividend from $3.95 to $2.37 per share and use the extra funds to expand. Prior to theannouncement, Cooperton's dividends were expected to grow at a 3.3% rate, and its share price was $50.96. With the plannedexpansion, Cooperton's dividends are expected to grow at a 4.6% rate. What share price would you expect after theannouncement? (Assume that the new expansion does not changeCooperton's risk.) Is the expansion a goodinvestment?