Common stock value - Variable growth Personal Finance Problem Home Place Hotels, Inc., is entering into a 3 -year remodeling and expansion project. The construction will have a limiting effect on earnings during that time, but when it is complete, it should aliow the company fo enjoy much. improved growth in eamings and dividends. Last year, the company paid a dividend of $4.90. It expects zoro growth in the next yoar. In years 2 and 3 , 2% growth is expected, and in year 4,16% growth. In year 5 and thereafter, growth should be a constant 4% per year. What is the maximum price per share that an investor who requires a return of 15% should pay for Home Place Hotels common stock? The maximum price per share that an investor who requites a return of 15% should pay for Home Place Hotels common stock is $ (Round to the nearest cent)