Assume Gillette Corporation will pay an annual dividend of $$0\mathrm{.}65$ one year from now. Analysts expect this dividend to grow at $11\mathrm{.}5\%$ per year thereafter until the $4$ th year. Thereafter, growth will level

off at $1\mathrm{.}5\%$ 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 $8\mathrm{.}8\%?$