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Colgate - Palmolive Company has just paid an annual dividend of $ 1 . 8 4 . Analysts are predicting dividends to grow by $

Colgate-Palmolive Company has just paid an annual dividend of $1.84. Analysts are predicting dividends to grow by $0.14 per year over the next 5 years. After then, Colgate's earnings are expected to grow 3.5% per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 5.8% per year, what price does the dividend-discount model predict Colgate stock should sell for today?

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