Assume Gillette Corporation will pay an annual dividend of $0.64 one year from now. Analysts expect this dividend to grow at 11.2% per year thereafter until the fifth year. Thereafter, growth will level off at 1.5% per year. According to the DDM, what is the value of a share of Gillette stock if the firm's equity cost of capital is 8.1%? The value of Gillette's stock is $ . (Round to the nearest cent.)