10-5 Constant Growth Stocks Problem 10-10 Valuation of a declining growth stock Martell Mining Company's ore reserves are being depleted, so its sales are falling. Also, because its pit is getting deeper each year, its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate o 3% per year f Do S3 and rs 119 what he value of Ma tel ini s sto ? Round our answer tot o decimal places. 10-5 Constant Growth Stocks Problem 10-11 Valuation of a constant growth stock A stock is expected to pay a dividend of $0.50 the end of the year (that is, D1 $0.50), and it should continue to grow at a constant rate of 8% a year. If its required return is 12%, what is the stock's expected price 4 years from today? Round your answer to two decimal places