== Homework: Homework Chapter 7 Question 10, P 7-17 (similar to) HW Score: 73.33%, 11 of 15 points Part 1 of 2 O Points: 0 of 1 Save Cooperton Mining just announced it will cut its dividend from $3.79 to $2.64 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 $49.49. With the planned expansion, Cooperton's dividends are expected to grow at a 4.7% 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.)