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Assume Gillette Corporation will pay an annual dividend of $ 0 . 6 4 one year from now. Analysts expect this dividend to grow at

Assume Gillette Corporation will pay an annual dividend of $ 0.64 one year from now. Analysts expect this dividend to grow at 11.3% per year thereafter until the 5th year. Thereafter, growth will level off at 1.9% 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%?

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