Using the numbers 1, 2, 3, ... 16 each exactly once, fill each square of a 4x4 grid so that the product of the numbers in each row is a multiple of $N$ and the product of the numbers in each column is also of multiple of $N$ where $N$ is a power of $2$. The goal is to maximize $N$.
Bonus question: Same as above except that $N$ is a positive integer not necessarily a power of $2$.
The above puzzle was inspired by the following 2016 Olympiad Cayley competition puzzle:
Dean wishes to place the positive integers 1, 2, 3, ..., 9 in the cells of a 3 × 3 square grid so that:
(i) there is exactly one number in each cell;
(ii) the product of the numbers in each row is a multiple of four;
(iii) the product of the numbers in each column is a multiple of four.
Is Dean's task possible? Prove that your answer is correct.