Colgate-Palmolive Company has just paid an annual dividend of $0.93. Analysts are predicting a(n) 11.7% 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 6.2% per year. If Colgate's equity cost of capital is 7.7% per year and its dividend payout ratio remains constant, what price does the dividend-discount model predict Colgate stock should sell for?