Assume Gillette Corporation will pay an annual dividend of $$0\mathrm{.}62$ one year from now. Analysts expect this dividend to

grow at $12\mathrm{.}1\%$ per year thereafter until the $5$ th year. Thereafter, growth will level off at $1\mathrm{.}7\%$ 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 $8\mathrm{.}6\%?$

The value of Gillette's stock is $

$($Round to the nearest cent.$)$