Assume Gillette Corporation will pay an annual dividend of So.65 one year from now. Analysts expect this dividend to grow at 12.8% per year thereafter until the 4 th year. Thereafter, growth will level off at 1.6% per year. According to the dividend-discount model, what is the value of a share of Gilette stcck if the firri's equity cost of capital is 8.8% ? The value of Gillette's stock is 25 (Round to the nearest cent.)