Cooperton Mining just announced it will cut its dividend from $$3\mathrm{.}77$ to $$1\mathrm{.}87$ per share and use the extra funds to expand. Pror to the announcement, Cooperton's dividends were expected to grow at a $2\mathrm{.}8\%$ rate, and its share price was $$50\mathrm{.}39.$ With the new expansion, Cooperton's dividends are expected to grow at a $4\mathrm{.}9\%$ 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 announcement?

The equity cost of capital is $\%.($Round to two decimal places.$)$

The new share price will be $$,($Round to the nearest cent.$)$

Is the expansion a positive NPV investment? $($Select from the drop$-$down menu.$)$

In this case, cutting the dividend to expand a positive NPV investment.