Colgate-Palmolive Company has just paid an annual dividend of $1.93. Analysts are predicting dividends to grow by $0.18 per year over the next five years. After then, Colgate's earnings are expected to grow 5.6% per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 9.2% per year, what price does the dividend-discount model predict Colgate stock should sell for today?