Assume Gillette Corporation will pay an anmual dividend of $0.63 one yoar from now. Analysts expect this dividond to grow at 12.3% per year thereafler unti the 6 th year. Thereafler, growth will levet off at 1.8% per year. According to the dividend-discount modet, what is the value of a share of Gilletle stock if the firm's equity cost of capital is 8 . 8\%? The value of Gulette's stock is ? (Round to the nearest cent.)