Palantir Technologies Inc. pays out all its earnings and has a share price of $310. In order to expand, Palantir decides to cut its dividend from $30.00 to $22.00 per share and reinvest the retained funds. Once the funds are reinvested, they are expected to grow at a rate of 16%. If the reinvestment does not affect Palantir's equity cost of capital and earnings before the dividend cut were expected to be constant, what is the expected share price as a consequence of this decision?

Group of answer choices

$464.40

$406.60

$352.94

$371.68