Mining just announced it will cut its dividend from

$$$$3\mathrm{.}873\mathrm{.}87$

to

$$$$2\mathrm{.}632\mathrm{.}63$

per share and use the extra funds to expand. Prior to the$$ announcement,

CoopertonCooperton$\text{'}$s

dividends were expected to grow at a

$3\mathrm{.}3\%3\mathrm{.}3\%$

$$rate$,$ and its share price was

$ $50\mathrm{.}49$$$50\mathrm{.}49.$

With the planned$$ expansion,

CoopertonCooperton$\text{'}$s

dividends are expected to grow at a

$4\mathrm{.}9\%4\mathrm{.}9\%$

rate. What share price would you expect after the$$ announcement? $($Assume that the new expansion does not change

CoopertonCooperton$\text{'}$s

$$risk$.)$ Is the expansion a good$$ investment?