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Cooperton Mining just announced it will cut its dividend from $3.96 to $2.52 per share and use the extra funds to expand. Prior to the

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Cooperton Mining just announced it will cut its dividend from $3.96 to $2.52 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 35% rate, and its share price was $49 84 With the planned expansion, Cooperto's dividends are expected to grow at a 4 9% 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

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