Homework: Module 6 -Stock Valuation Save Score: O of 1 pt 12 of 15 (12 complete) Hw Score: 73.33%, 11 of 15 pts P7-12 (similar to) Question Help * 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 $3.28 per share and paid cash dividends of S1.58 per share Don$1.58). Grips earnings and dividends are expected to grow at 40% per year for the next 3 years, after which they are expected to grow 5% per year to infinity What is the maximum price per share that Newman should pay for Grips if it has a required retu of 10% 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)