Assume Gillette Corporation will pay an annual dividend of $ 0.62 one year from now. Analysts expect this dividend to grow at 12.1 % per year thereafter until the 6 year. Thereafter, growth will level off at 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 8.8 % ?