Colgate-Palmolive Company has just paid an annual dividend of$0.96. Analysts are

Colgate-Palmolive Company has just paid an annual dividend of$0.96. Analysts are predicting an 11% per year growth rate inearnings over the next five years. After then Colgates earningsare expected to grow at the current industry average of 5.2% peryear. If Colgates equity cost of capital is 8.5% per year and itsdividend payout ratio remains constant for what price does thedividend-discount model predict Colgate stock should sell?