Colgate$-$Palmolive Company has just paid an annual dividend of $$1\mathrm{.}34.$ Analysts are predicting an $13\%$ per year growth rate in earnings over the next five years. After that, Colgate's earnings are expected to grow at the current industry

average of $6\mathrm{.}8\%$ per year. If Colgate's equity cost of capital is $8\mathrm{.}4\%$ per year and its dividend payout ratio remains constant, what price does the dividend$-$discount model predict Colgate stock should sell for?

The price per share is $$,($Round to two decimal places.$)$