Colgate-Palmolive Company has just paid an annual dividend of $ 1.33. 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 5.4 % per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is 9.5 % 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.)