Colgate-Palmolive Company has just paid an annual dividend of $1.05. Analysts are predicting a(n) \11.8% 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 5.5% per year. If Colgate's equity cost of capital is 7.2% per year and its dividend payout ratio remains constant, what price does the dividend-discount model predict Colgate stock should sell for?