1.Maxwell 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 of 10% per year. If D0=$3 and Rs=11%, what is the value of Maxwell Mining's stock? Round your answer to the nearest cent.

2.A stock is expected to pay a dividend of $1.75 at the end of the year (i.e.,D1=$1.75), and it should continue to grow at a constant rate of 10% a year. If its required return is 15%, what is the stock's expected price 3 years from today? Do not round intermediate calculations. Round your answer to the nearest cent.