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Assume Gillette Corporation will pay an annual dividend of $ 0.66 one year from now. Analysts expect this dividend to grow at 12.4 % per

Assume Gillette Corporation will pay an annual dividend of $ 0.66 one year from now. Analysts expect this dividend to grow at 12.4 % per year thereafter until the sixth year. Thereafter, growth will level off at 1.7 % per year. According to the DDM, what is the value of a share of Gillette stock if the firm's equity cost of capital is 7.7 %? The value of Gillette's stock is $ nothing

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