P7-13 (similar to) Assigned Media Question Help O 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 $3.43 per share and paid cash dividends of $1.73 per share (D, = $1.73). Grips' earnings and dividends are expected to grow at 30% 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 retum of 10% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Grips is $- (Round to the nearest cent.) Enter your answer in the answer box and then click Check Answer. All parts showing Clear All Check