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Cooperton Mining just announced it will cut its dividend from $ 4 . 0 2 to $ 2 . 5 6 per share and use

Cooperton Mining just announced it will cut its dividend from $4.02 to $2.56 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.1% rate, and its share price was $49.03. With the planned expansion, Cooperton's dividends are expected to grow at a 4.6% 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.
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