Common stock value - Variable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips earned \$4.14 per share and paid cash dividends of $2.44 per share (D0=$2.44). Grips' earnings and dividends are expocted to grow at 35% par year for the next 3 years, after which they are expected to grow 8% per year to infinity. What is the maximum price per share that Newman should pay for Grips if it has a required return of 15% on investments with risk characteristics similar to those of Grips? The maximum price per share that Nowman should pay for Grips is s (Round to the nearest cent.)