= Homework: Lab #1 Question 18, Exercise 7-18 HW Score: 86.49%, 32 of 37 points O Points: 0 of 3 Save Assume Gillette Corporation will pay an annual dividend of $0.61 one year from now. Analysts expect this dividend to grow at 12.5% per year thereafter until the fourth year. Thereafter, growth will level off at 2.3% per year. According to the DDM, what is the value of a share of Gillette stock if the firm's equity cost of capital is 7.1%? The value of Gillette's stock is $(Round to the nearest cent.) Help me solve this View an example Ask my instructor Clear all Check