Colgate-Palmolive Company has just paid an annual dividend of

$ 1.58$1.58.

Analysts are predicting dividends to grow by

$ 0.11$0.11

per year over the next five years. After then, Colgate's earnings are expected to grow

5.6 %5.6%

per year, and its dividend payout rate will remain constant. If Colgate's equity cost of capital is

8.7 %8.7%

per year, what price does the dividend-discount model predict Colgate stock should sell for today?

The price per share is

$nothing.

(Round to two decimal places.)

show work please