Assume Gillette Corporation will pay an annual dividend of $0.64 one year from now. Analysts expect this dividend to grow at 11.6 % per year thereafter until the 5th year. Thereafter, growth will level off at 1.6 % 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 7.8%? S(Round to the nearest cent.) The value of Gillette's stock is