a Holt Enterprises recently paid a dividend, De, of $1.75. It expects to have nonconstant growth of 14% for 2 years followed by a constant rate of 4% thereafter. The firm's required retum is 9 How far away is the horizon date? 1. The terminal, or horizon, date as the date when the growth rate becomes constant. This occurs at the beginning of Year 2. 11. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2. II. The terminal, or horizon, dat is Infinity since common stocks do not have a maturity date IV. The terminal, or hortzon, date is Your O since the value of a common stock is the present value of all future expected dividends at time sero The terminal, or horteon date is the date when the growth rate becomes nonconstant. This occurs at time zero b. What is the firm's horizon, or continuing, value? Do not round intermediate calculations, Round your answer to the nearest cent. Do not round Intermediate calculations. Round your answer to the nearest cent. What is the firm's intrinsic value today, 5