Cooperton Mining just announced it will cut its dividend from $$3\mathrm{.}85$ to $$2\mathrm{.}46$ per share and use the extra funds to expand. Prior to the announcement,

Cooperton's dividends were expected to grow at a $3\mathrm{.}1\%$ rate, and its share price was $$49\mathrm{.}58.$ With the planned expansion, Cooperton's dividends are

expected to grow at a $4\mathrm{.}5\%$ 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.$)$