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 5 th year. Thereafter, growth will level off at 2.2 % 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 7.5 % ?