annual .68 one tear from now

expected grow 12.5% / year until 4th year after

growth level off at 1.9%

equity cost of capital 8.9%

please explain and show calculations on everything so I can understand please

Question Help X P7-18 (similar to) Assume Gilette Corporation will pay an annual dividend of $0.68 one year from now. Analysts expect this dividend to grow at 12.5% per year thereafter until the 4th year. Thereafter, growth wil level off at 1.9% 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 8.9%? The value of Gillette's stock is $ (Round to the nearest cent)