The layer containing the rests of the picture should be erased: Layer ? Delete ? Layer. We should copy also that part of the compass that is without its frame.

Autumn Wallpaper ? Photo Effects

Distort the compass's perspective after that, making use of this command: Edit ? Transform ? Distort

Autumn Wallpaper ? Photo Effects

The second layer must be placed above the eye (Distort, Free Transform) and then erase the unnecessary part by marking it firstly with Polygonal Lasso Tool. Before marking that part we could minimize the layer's Opacity till 0%,
  
and then turn it back on 100%. We should blur out the dial plate's edges too, selecting the Blur Tool.

Autumn Wallpaper ? Photo Effects

Decolorize the layer now: Image ? Adjustments ? Desaturate (shift+ctrl+u) and change the layer's type on Multiply, increase the layer's contrast, using the next option: Image ? Adjustments ? Curves (ctrl+m).

Autumn Wallpaper ? Photo Effects

Open in a new window the photo representing the autumn leaves: (ctrl+o):

Autumn Wallpaper ? Photo Effects