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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 11.3 %11.3% 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 11.3 %11.3% per year thereafter until the 44th year. Thereafter, growth will level off at 2.5 %2.5% 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 %8.8%?

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