P7-15 Common stock value: Variable growth Nilc Builders Ltd. is entering into a one-year overhaul and remodeling project. This will have a limiting effect on carnings during that time, but when completed, it should allow the company to enjoy much improved growth in carnings and dividends. Last year, the company paid a dividend of Turkish lira (TL) 2.50 per share. It expects to pay the same amount this year. In years 2 and 3,6% growth is expected, and in year 4, 12% growth. In year 5 and thereafter, growth should be a constant 10% per year. What is the maximum price per share that an investor who requires a return of 15% should pay for Nile Builders common stock