Cooperton Mining just announced it will cut its dividend from $4.67 to $2.47 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 2.8% rate, and its share price was $50.13. With the new expansion, Cooperton's dividends are expected to grow at a 5.1% rate.

a. What share price would you expect after the announcement? (Assume Cooperton's risk is unchanged by the new expansion.)

b. Is the expansion a positive NPV investment?