The first portion of the retail purchase price ($151.17) will count toward the 2013 Initial Coverage Limit of $2,970 and you probably will pay $108 for this portion of the purchase - based on your plan's cost-sharing.
Next, assuming the medication is a brand-name drug, you will receive the 2013 Donut Hole discount of 52.5% (you pay 47.5% of retail) on the remaining amount that falls into the Coverage Gap.
The remaining retail price in the Donut Hole is calculated as: $705.96 (retail price) - $151.17 (what you pay before reaching the Initial Coverage Limit) = $554.79
So you will pay the discounted amount of 47.5% of the remaining retail price or (0.475 * $554.79) = about $263.52
The total cost for this medication purchase will be around: $108 + $263.52 = $371.52.
Naturally, this is an estimate and your costs may vary.
Here is an example of the retail price history of this medication: https://q1medicare.com/PartD-2014MedicarePlan-RetailDrugPrice.php?ndc=65597070118&letter=W&formulary=00014359&contractId=S5921&planId=143&segmentId=0&zipCountyCode=0&stateReg=11FL&zip=&planType=P&mode=state#History