Common stock value-Variable growth Newman Manufecturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips earned $4.25 per share and peid cash dividends of $2.55 per share (D0=$2.55) Grips' earnings and dividends are expected to grow at 25% per year for the next 3 years, after which they are axpected to grow 10% per year to infinity. What is the maximum price per share that Newman should pay for Grips if it has a required returh of 15% on investments with risk characteristics similar to those of Grips