Answer:
Amount for each stock to be paid at maximum = $54
Step-by-step explanation:
Using Dividend growth model, we have,

Where
= Expected price of share today
= Dividend to be paid at this year end
=

= Required return on investment
g = Growth rate
Therefore,
= = $3 + 8% = $3.24

= $54
Therefore, current price for this share or sock to be paid = $54 per share.