Assume Gillette Corporation will pay an annual dividend of $0.61 one year from nowAnalysts expect this dividend to grow at 12.6% per year thereafter until the 6th year Thereafter, growth will level off at 1.7% 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 8.6%?

The value of Gillette's stock is (Round to the nearest cent)

Assume Gillette Corporation will pay an annual dividend of $0.61 one year from now. Analysts expect this dividend to grow at 12.6% per year thereafter until the 6th year. Thereafter, growth will level off at 1.7% 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 8.6% ? The value of Gillette's stock is \$ (Round to the nearest cent)