Tawney Mining Companys reserves are being depleted, so its sales are falling. As a result, the companys earnings and dividends are declining at the constant rate of 5 percent per year. If D 0 = $3.00 and r s = 13%, what is the value of Tawney Minings stock? Correct answer is A 15.83 PLEASE SHOW STEPS TO SOLVE? why is 16.67 not the correct answer?

a. $15.83

b. $17.50

c. $16.67

d. $35.63

e. $37.50