For light it's hard to beat this LED 100 Lumen Black Cat. At $8.12 it's a dollar over your limit but it's a great light! It probably doesn't truly make 100 lumens out the front but it's extremely bright, and it takes 1 x AAA battery. It's very durable (made of aluminum). I have three and have carried two of them for about a year with no problems. If you look around on the site they have it in red which would be nice- easier to find if dropped. I just haven't got around to getting one yet.

One caveat: they're in Hong Kong or Taiwan, don't recall which. Shipping is free and I've always got what I ordered (4 or 5 orders now) but it's very slow. Think three or even four weeks! Once it was long enough that by the time it arrived I had no idea what it was...I'd completely forgotten I'd placed the order! Of course, as an old guy I suffer from CRS...