Declining Growth Stock Valuation

Brushy Mountain Mining Company's coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 8% per year. If D0 = $5 and rs = 17%, what is the value of Brushy Mountain's stock? Round your answer to the nearest cent.

$ ________