Common stock valueVariable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips earned $3.74 per share and paid cash dividends of $2.04 per share (Do=$2.04). Grips' earnings and dividends are expected to grow at 30% per year for the next 3 years. after which they are expected to grow 8% per year to innity. What is the maximum price per share that Newman should pay for Grips if it has a required return of 13% on investmenis with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay tor Grips is $ . (Round to the nearest cent.) Enter your answer in the answer box and then click Check