Enbridge, Inc. had a current share price of $48.10, and the firm had 1,800,000 shares of stock outstanding. The company is considering an investment project that requires an immediate $14,300,000 investment but will produce a stream of cash flow of $4,950,000 each year over the next 5 years then close. There is no salvage value. If Enbridge invests in the project, what would the new share price be? Enbridge's cost of capital is 8.02%. (Hint: consider how the project NPV affects the stock price)

$49.74

$50.29

$50.65

$50.88

$51.13