Problem:
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. If D0 = $6 and rs = 10%,
Required:
Question: What is the value of Brushy Mountain's stock? Show your all work.