The point $P$ is one of the points of intersection between the curve

and the line

1. Use the Newton-Raphson method, with a starting value of $x=\frac{3}{4},$ to find $3$ further approximations for the $x$ coordinate of $P.$

2. Hence, find an approximate value for the $y$ coordinate of $P.$

Give the approximate $y$ coordinate of $P$, to $3$ significant figures.