Assume Gillette Corporation will pay an annual dividend of $0.95 one year from now. Analysts expect this dividend to grow at 20% per year thereafter for two years, i.e. through the Year 3 dividend. Thereafter, growth will level off at 2% 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 9%?