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 $3\%$ per year. If D$0=$$$2$ and $rs=14\%,$ what is the value of Maxwell Mining's stock? Round your answer to the nearest cent.

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Holtzman Clothiers's stock currently sells for $$35\mathrm{.}00$ a share. It just paid a dividend of $$2\mathrm{.}25$ a share $($i$.$e$.,$ D$0=$ $$2\mathrm{.}25).$ The dividend is expected to grow at a constant rate of $7\%$ a year.

What stock price is expected $1$ year from now?

Round your answer to the nearest cent.

What is the required rate of return? Do not round intermediate calculations. Round your answer to two decimal places.

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