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Please use EXCEL to answer and show all formulas. I can't understand the answer if I...

Please use EXCEL to answer and show all formulas. I can't understand the answer if I can't see the formulas for each field. Thank you very much.

Newman manufacturing is considering a cash purchase of the stock of Grips Tool. During the year just​ completed, Grips earned $4.25 per share and paid 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 expected 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 return of 15​% on investments with risk characteristics similar to those of​ Grips? 

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