Assume Gillette Corporation will pay an annual dividend of $0.69 one year from now. Analysts expect this dividend to grow at 11.8% per year thereafter until the 4th year, Thereafter, growth will level off at 17% 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% The value of Gillette's stock is $(Round to the nearest cont.)