Assume Gillette Corporation will pay an annual dividend of $0.67 one year from now. Analysts expect this dividend to grow at 11.2% per year thereafter until the 6 th year. Thereafter, growth will level off at 2.5% 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 7.4% ? Review Click the icon to see the Worked Solution (Formula Solution). The value of Gillette's stock is $19.62. (Round to the nearest cent.) Assume Gillette Corporation will pay an annual dividend of $0.67 one year from now. Analysts expect this dividend to grow at 11.2% per year thereafter until the 6 th year. Thereafter, growth will level off at 2.5% 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 7.4% ? Review Click the icon to see the Worked Solution (Formula Solution). The value of Gillette's stock is $19.62. (Round to the nearest cent.)