Colgate-Palmolive Company has just paid an annual dividend of $1.16. Analysts are predicting dividends to grow by $0.12 per year over the next five years. After then, Colgate's earnings are expected to grow 6.5% per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 8.8% per year, what price does the dividend-discount model predict Colgate stock should sell for today? The price per share is $ (Round to two decimal places.)