Colgate-Palmolive Company has just paid an annual dividend of $1.78. Analysts are predicting dividends to grow by $0.16 per year over the next five years. After then, Colgate's earnings are expected to grow 6.7% per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 7.8% per year, what price does the dividend-discount model predict Colgate stock should sell for today?