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Assume Gillette Corporation will pay an annual dividend of $ 0.67$0.67 one year from now. Analysts expect this dividend to grow at 12.2 %12.2% per

Assume Gillette Corporation will pay an annual dividend of $ 0.67$0.67 one year from now. Analysts expect this dividend to grow at 12.2 %12.2% per year thereafter until the 55th year. Thereafter, growth will level off at 1.8 %1.8% 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 7.6 %7.6%?

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