Common stock value-Variable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool During the year just completed Golps earned 53.31 per share and paid cash dividends of $161 per share (0, -5161) Grips' earnings and dividends are expected to grow at 20% per year for the next 3 yean, wer which they are expected to grow 6% per year to Infinity What is the maximum price per share that Newman should pay for Grips if it has a required return of 14% on investments with risk characteristics similar to those of Grips? The maimum peice per share that Newman should pay for Grips is Round to the nearest cont.)