Colgate-Palmolive company has just paid an annual dividend of 1.03. Analyst are predicting a(n) 10.6 % per year growhth rate in earnings over the next five years. After that Cogates earning are expected to grow at the current industry average of 5.5 per year. If Colgates equity cost of capital is 9.4% per year and its dividend pay out ratio remain constant. What price does the dividend-discount model predict colgate stock should sell for?

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