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Please show how to solve without excel. P 7-18 (similar to) Question Help Assume Gillette Corporation will pay an annual dividend of $0.68 one year

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P 7-18 (similar to) Question Help Assume Gillette Corporation will pay an annual dividend of $0.68 one year from now. Analysts expect this dividend to grow at 12.9% per year thereafter until the 6th year. Thereafter, growth will level off at 1.8% per year. According to the dividend-discount model, what is the value of a share of Gillette stock if the firm's equity cost of capital is 7.4%? The value of Gillette's stock is (Round to the nearest cent.)

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