Colgate-Palmolive Company has just paid an annual dividend of

$1.83.

Analysts are predicting dividends to grow by

$0.17

per year over the next five years. After then, Colgate's earnings are expected to grow

6.2%

per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is

7.3%

per year, what price does the dividend-discount model predict Colgate stock should sell for today?