Cooperton Mining just announced it will cut its dividend from $4.14 to $ 2.27 per share and use the extra funds to expand. Priorto the​ announcement, Cooperton's dividends were expected to growat a 3.2 % ​rate, and its share price was $ 48.86. With theplanned​ expansion, Cooperton's dividends are expected to grow at a4.7 % 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 ​[...]?
