P7-13 (similar to) Assigned Media Question Help Common stock value-Variable growth Newman Manufacturing is considering a cash purchase of the stock of Grips Tool During the year just completed, Grips eared 52 75 por share and paid cash dividends of 51 05 per share (0 = $105) Grips' earnings and dividends are expected to grow at 30% per year for the next 3 years after which they are expected to grow 7% per year to infinity What is the maximum price per share that Newman 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 Grips is (Round to the nearest cont)