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 $3.64 per share and paid cash dividends of $1.94 per share (D-5194) Grips earnings and dividends are expected to grow at 20% per year for the next 3 years, after which they are expected to grow 9% per year to infinity. What is the maximum price per share that reman 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 here that Newman should pay for Orice in (Round to the nearest cent)