H Common stock value-Variable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just completed, Grips earned $3.87 per share and paid cash dividends of $2.17 per share (0 - $2.17). Grips' earnings and 1 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 infinity What is the maximum price per share that Newman should pay for Grips if it has a required return of 10% on investments with risk 08 characteristics similar to those of Grips? (8. The maximum price per share that Newman should pay for Grips is $(Round to the nearest cent.) jes