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 \$4.04 per share and paid cash dividends of \$2.34 per share (D0=$2.34). Grips' eamings and dividends are expected to grow at 35% per 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 11% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Grips is $ (Round to the nearest cent) Common stock value - Variable growth Lawrence Industries' most recent annual dividend was \$1.29 per share (D0=$1.29), and the firm's required retum is 15%. Find the market value of Lawrence's shares when dividends are expected to grow at 20% annually for 3 years, followed by a 3% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $ (Round to the nearest cent) 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 \$4.04 per share and paid cash dividends of \$2.34 per share (D0=$2.34). Grips' eamings and dividends are expected to grow at 35% per 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 11% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Grips is $ (Round to the nearest cent) Common stock value - Variable growth Lawrence Industries' most recent annual dividend was \$1.29 per share (D0=$1.29), and the firm's required retum is 15%. Find the market value of Lawrence's shares when dividends are expected to grow at 20% annually for 3 years, followed by a 3% constant annual growth rate in years 4 to infinity. The market value of Lawrence's shares is $ (Round to the nearest cent)