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please help with following problem thank you Common stock valueVariable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool. During

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please help with following problem thank you

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Common stock valueVariable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips earned $3.17 per share and paid cash dividends of $1.47 per share (D0 = $1.47). Grips' earnings and dividends are expected to grow at 30% per year for the next 3 years, after which they are expected to grow 9% per year to innity. What is the maximum price per share that Newman 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 share that Newman should pay for Grips is $D. (Round to the nearest cent.)

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