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Colgate-Palmolive Company has just paid an annual dividend of $ 1.15 Analysts are predicting dividends to grow by $0.14 per year over the next five years.

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Colgate-Palmolive Company has just paid an annual dividend of $ 1.15 Analysts are predicting dividends to grow by $0.14 per year over the next five years. After​ then, Colgate’s earnings are expected to grow 6.2% per​ year, and its dividend payout rate will remain constant. If​ Colgate’s equity cost of capital is 9.4% per​ year, what price does the​ dividend-discount model predict Colgate stock should sell for​ today?

The price per share is ​$

 
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