Question: 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,

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 4% per year. If Do = $6 and rs = 18%, what is the value of Maxwell Mining's stock? Round your answer to the nearest cent. $

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