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eBook Problem 7-11 Declining Growth Stock Valuation Brushy Mountain Mining Company's coal reserves are being depleted, so its sales are falling. Also, environmental costs increase

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eBook Problem 7-11 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 4% per year. 17 Do - $4 and rs - 18%, what is the estimated Value of Brushy Mountain's stock? Round your answer to the nearest cent

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