Assume Gillette Corporation will pay an annual dividend of $ 0.65 one year from now. Analysts expect this dividend to grow at 12.0 % per year thereafter until the 55th year.? Thereafter, growth will level off at 2.0 % per year. According to the? dividend-discount model, what is the value of a share of Gillette stock if the? firm's equity cost of capital is 8.0 %
The value of? Gillette's stock is?
(Round to the nearest? cent.)