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 $3 72 per share and paid cash dividends of $2.02 per share (Do = $202) Grips earnings and dividends are expected to grow at 25% 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 14% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Grips is $XRound to the nearest cent.)