Soylent Corp expects to generate earnings over the coming twelve months of $6.64 per share (i.e. at t=1 ). It has a share price today of $49.68. The firm has a policy of paying out 32.0% of its earnings each year as dividends to shareholders and of reinvesting the remaining 68.0% into new projects. Reinvested earnings provide a return on new investment of 15.3% per annum. However, due to a disappearing customer base, Soylent Corp will announce tomorrow that the firm will begin paying out 68.0% of its earnings as dividends, retaining now 32.0% for investment in new projects. The return provided by earnings reinvested in new projects will remain at 15.3% per annum for the foreseeable future. a) What will be the share price after this announcement? Investors are not expecting the firm to change its payout policy. The share price for Soylent Corp after this announcement will be 9 (Round your answer to the nearest cent)