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Assume Gillette Corporation will pay an annual dividend of $ 0.61$0.61 one year from now. Analysts expect this dividend to grow at 11.5 %11.5% per

Assume Gillette Corporation will pay an annual dividend of $ 0.61$0.61 one year from now. Analysts expect this dividend to grow at 11.5 %11.5% per year thereafter until the 55th year. Thereafter, growth will level off at 1.6 %1.6% 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 %7.1%?

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