Cooperton Mining just announced it will cut its dividend from $$3\mathrm{.}77$ to $$2\mathrm{.}65$ per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a $3\mathrm{.}2\%$ rate, and its share price was $$49\mathrm{.}82.$ 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's risk.$)$ Is the expansion a good investment?

The new price for Cooperton's stock will be $$,($Round to the nearest cent.$)$