IMHO, $15-$20, maybe. While the condition, ED, is a factor here, this token lacks a number of aspects that contribute to higher value, rarity aside. There are literally many hundreds of CWT's, rated R-8 or R-9 that don't command a high dollar premium. Factors other than a low population will translate to higher values.
Looking at the OP's token, copper pieces are typically the most common issues. In general, off-metals tend to be more popular than copper. Then too, Detroit, the location, is an easily obtainable city for a collector of towns. Michigan is an easily obtainable state. A Kansas CWT, in comparable condition to the OP's token would realize four figures at auction. Furniture merchants are not among the more coveted professions. The reverse, Indian die is not rare, in and of itself. A rare reverse die, even on a common merchant token, can increase the value by many hundreds of dollars. A popular, R-5, "Good for a Scent" dog head die will realize hundreds at auction. When it comes to valuing CWT's, condition and rarity count, but a variety of other factors must be considered.