Colgate-Palmolive Company has just paid an annual dividend of $1.92. Analysts are predicting dividends to grow by $0.11 per year over the next five years. After then, Colgate's earnings are expected to grow 6.9% per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 9.4% 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)