Common stock value-Variable growth. Personal Finance Problem Home Place Hotels, Ino, is entering into-a 3 -year remodeling and expension projoct. The construction will have a limiting etfect on earnings during that time. but when it is complete, it should allow the company to onjoy much impcoved growth in earnings and dividends. Last year, the company paid a dividend of $1.80. It expects zero growth in the next year, In years 2 and 3,3% growth is expected, and in year 4,17% growth. in year 5 and thereafter, growth should be a constant 5% per year. What is the moximum prico per share that an inwostor who requites a retum of 14% should pay for Horne Place Hotels common stock? The maximum price per shave that an investor who requires a return of 14% should pay for Home Place Hotels common stock is 8 (Round to the nearest cens:)