Procter & Gamble $($PGPG$)$ paid an annual dividend of $$$$3\mathrm{.}573\mathrm{.}57$ in $20212021.$ You expect PGPG to increase its dividends by $8\mathrm{.}7\%8\mathrm{.}7\%$ per year for the next five years$($through $20262026),$ and thereafter by $2\mathrm{.}6\%2\mathrm{.}6\%$ per year. If the appropriate equity cost of capital for Procter & GambleProcter & Gamble is $5\mathrm{.}7\%5\mathrm{.}7\%$ per$$ year, use the$$ dividend$-$discount model to estimate its value per share at the end of $20212021.$

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Part $1$

The price per share is $?$