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31. Problem 9.10 (Valuation of a Declining Growth Stock) eBook Problem Walk-Through Maxwell Mining Company's ore reserves are being depleted to its sales are failing.

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31. Problem 9.10 (Valuation of a Declining Growth Stock) eBook Problem Walk-Through Maxwell Mining Company's ore reserves are being depleted to its sales are failing. Also, because its pit is getting deeper each year, its costs are rising. As result, the company's earnings and dividends are declining at the constant rate of 8% per year. 1 D. - 54 and is - 18%, what is the value of Maxwel Mining's stock round your answer to the nearest cent. $ 5

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