Assume Giletie Corporation will pay an annual dividend of $0.65 one year trom now. Analysts expect this dividend to grow at 11.8% per year thereater until the 2 th year. Thereather, growth will level off at 1.5% per year. According to the dividend-dicoum model, what is the value of a share of Gilete stock if the firm's equity cost of captal is 8.6% ? The vaive of Gilette's stock is ? (Round to the nearest cent.)