$4$ points$)$ German resources is involved in coal mining. The company is currently profitable and is expected to pay a year$-$end dividend of $$4$ per share. The company has suspended exploration, however, and because its existing operations exhaust the mines, you expect that the dividends paid by the company will decline forever at a rate of $8\%.$ The required return on the stock is $11\%.$ Using the dividend discount model, estimate the value of the stock today