Assume Gillette Corporation will pay an annual dividend of $ 0.64 one year from now. Analysts expect this dividend to grow at 12.4 % per year thereafter until the 5th year.Thereafter, growth will level off at 2.5 % per year. According to thedividend-discount model, what is the value of a share of Gillette stock if thefirm's equity cost of capital is 7.8 % ?