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Gillette Corporation will pay an annual dividend of ( $ 0.61 ) one year from now. Analysts expect this dividend to grow at 11.9 per
Gillette Corporation will pay an annual dividend of \\( \\$ 0.61 \\) one year from now. Analysts expect this dividend to grow at \11.9 per year thereafter until the 4 th year. Thereafter, growth will level off at \2.3 per year. According to the dividend-discount model, what is the value of a Gillette share if the firm's equity cost of capital is \7.5 ? The value of a Gillette share is \\( \\$ \\quad \\) (Round to the nearest cent.)
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