Cooperton Mining just announced it will cut its dividend from $$4\mathrm{.}45$ to $$2\mathrm{.}75$ per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a $2\mathrm{.}9\%$ rate, and its share price was $$50\mathrm{.}72.$ With the new expansion, Cooperton's dividends are expected to grow at a $5\mathrm{.}2\%$ rate. What share price would you expect after the announcement? $($Assume Cooperton's risk is unchanged by the new expansion.$)$ Is the expansion a positive NPV investment? $.$

What share price would you expect after the aimouncement?

The equity cost of capital is

$\%.($Round to two decimal places.$)$