Colgate-Palmolive Company has just paid an annual dividend of $ 1.35. Analysts are predicting dividends to grow by $ 0.19 per year over the next five years. Afterthen, Colgate's earnings are expected to grow 5.1 % peryear, and its dividend payout rate will remain constant. IfColgate's equity cost of capital is 8.6 % peryear, what price does thedividend-discount model predict Colgate stock should sell fortoday?