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Cooperton Mining just announced it will cut its dividend from $ 4.14 to $ 2.27 per...

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Finance

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 ​[...]?

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