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 $393 per share and paid cash dividends of $2 23 per share (0 - 52 23) Grips' earnings and dividends are expected to grow at 35% per year for the next 3 years, after 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 rotum of 13% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Grips is s (Round to the nearest cent.)