I like DM51's idea of a locating light for your dog and as for a light for yourself, picking up a used Marketplace or Ebay Surefire E1B might work well because it has a nice long running low and laser beam like throw for distance spotting. Up close the beam is a little tight but as the throw increases, the beam widens nicely.
Although I don't own one as of yet, I believe that the Malkoff drop-ins would make a nice choice as well but I don't think that they are multilevel capable unless I am mistaken. You may want to take a look at the RA Twisties and or Clickys as well, once again, I have no personal experience, other than pouring over numerous reviews and beamshots here on CPF, but they are highly regarded and presumably would fit the bill for function and price, twisties are on sale at Battery Station and there are many different models of clickys available.
There are so many quality lights out there, you should have no problem finding one to do both jobs for your stated price and under, the problem is deciding.:shrug:
Hope this helps.