Mings Mining just announced it will cut its dividend from $4.03 to $2.52 per share and use the extra funds to expand. Prior to the announcement

Ming's dividends were expected to grow at a 3.1 % rate, and its share price was

$ 51.46. With the planned expansion, Ming'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 Ming's risk.) Is the expansion a good investment?