= Homework: Homew... Question 10, P7-17 (sim. Part 1 of 2 HW Score: 60%, 9 of 15 points O Points: 0 of 1 Save Cooperton Mining just announced it will cut its dividend from $3.91 to $2.47 per share and use the extra funds to expand. Prior to the announcement, Cooperton's dividends were expected to grow at a 3.3% rate, and its share price was $49.27. With the planned expansion, Cooperton's dividends are expected to grow at a 4.6% 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.)