You own shares of Blossom DVD Company and are interested in selling them. With so many people downloading music these days, sales, profits, and dividends at Blossom have been declining 6 percent per year. The firm just paid a dividend of $1.20 per share. The required rate of return for a stock this risky is 14 percent. If dividends are expected to decline at 6 percent per year, what is a share of the stock worth today?

Please explain.