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Assume Gillette Corporation will pay an annual dividend of 0.68 one year from now. Analysts expect this dividend to grow at 12.8% per year thereafter

Assume Gillette Corporation will pay an annual dividend of 0.68 one year from now. Analysts expect this dividend to grow at 12.8% per year thereafter until the fourth year. Thereafter, growth will level off at 2.4% 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 8.7%?

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