OXE Corporation has an earnings per share of $5 and share price of $54. OXE decides to cut its next dividend from $5 to $2.5 per share and maintain the same new dividend payout rate. Assume that the new dividend policy does not affect the equity cost of capital. OXEs return on equity is 12%. What is the expected share price as a consequence of this decision?

Group of answer choices $76.69 $57.46 $61.88 $81.31 $90.97