Assume Gillette Corporation will pay an annual dividend of $$0\mathrm{.}66$ one year from now. Analysts expect this dividend to grow at $11\mathrm{.}3\%$ per year thereafter until the $4$ th

year. Thereafter, growth will level off at $2\mathrm{.}4\%$ 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

$7\mathrm{.}7\%?$

The value of Gillette's stock is $$,($Round to the nearest cent.$)$