Valuation of a declining growth stock 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 6% per year, if D_0 = $3 and r_1 = 10%. what is the value of Maxwell mining's stock? Round you're to two decimal places. $ 2.8