31. Problem 9.10 (Valuation of a Declining Growth Stock) eBook Problem Walk Through 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 9% per year. If Do - $6 and t, -14%, what is the value of Maxwell Mining's stock Round your answer to the nearest cent. $ The Holmes Company's currently outstanding bonds have a 9% coupon and a 13% yield to maturity. Holmes believes it could issue new bonds at par that would provide a similar vield to maturity. If its marginal tax rate is 25%, what is Holmes' after-tax cost of debt? Round your answer to two decimal places. The Holmes Company's currently outstanding bonds have a 9% coupon and a 13% yield to maturity. Holmes believes it could issue new bonds at par that would provide a similar vield to maturity. If its marginal tax rate is 25%, what is Holmes' after-tax cost of debt? Round your answer to two decimal places