Cooperton Mining just announced it will cut its dividend from
$4.13 to $2.27 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 $50.99. With the planned expansion, Cooperton's dividends are expected to grow at a 4.5% 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 goodinvestment?