Colgate-Palmolive Company has just paid an annual dividend of $ 0.97. Analysts are predicting a(n)11.4 %per year growth rate in earnings over the next five years. After that, Colgate's earnings are expected to grow at the current industry average of 5.9 %per year. If Colgate's equity cost of capital is 7.4 %per year and its dividend payout ratio remains constant, what price does the dividend-discount model predict Colgate stock should sell for?