Common stock value - Variable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips Gamed $323 per share and paid cash dividends of $1.55 per share Do $1.55). Grip'arnings and dividends are expected to grow at 40 per year for the next 3 years after which they are expected to grow o per year to infinity What is the maximum price por share that Nowman should pay for Grips if it has a required return of 11% on investments with risk characteristics similar to those of Grips? The maximum price per share that Newman should pay for Gripsis SL (Round to the nearest cont.)