Assume Gillette Corporation will pay an annual dividend of $$0\mathrm{.}68$ one year from now. Analysts expect this dividend to

grow at $11\mathrm{.}3\%$ per year thereafter until the $2$ th year. Thereafter, growth will level off at $2\mathrm{.}3\%$ 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 $7\mathrm{.}8\%?$

The value of Gillette's stock is $$.($Round to the nearest cent.$)$