Assume Gillette Corporation will pay an annual dividend of

$ 0.66 one year from now. Analysts expect this dividend to grow at 12.5 %

per year thereafter until the 4th year. Thereafter, growth will level off at

2.3 %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

7.1 %?

Value of a Share of Gillette stock is __________