Common stock value - Variable growth Personal Finance Problem Home Place Hotels, Inc, is en'ering into a 3 -year remodelng and expansion project. The construction wit have a limiting effect on eamings during that time, but when it is complete, if should allow the company to enioy much improved growth in earrings and dividends. Last year, the company paid a dividend of $4.20. It expects zero growth in the next yeac, 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 6% per year. What is the maximum price per share that an investor who reguires a refurn of 14% should pay for Home Place Hotels common stock? The maximum price per share that an investor who requires a return of 14% should pay for Home Place Hotels common stock is 5 (Round to the nearest cent.)