a. How far away is the herizon date? 1. The terminal, or horizon, date is infinity since common stocks da not have a maturity date. IL. The terminal, or horizon, date is Year 0 since the value of a common stock is the present value of all future expected dividends at time zero. III. The terminal, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero. IN. The terminal, or horizon, date is the dote when the growth rate becomes constant. This occurs at the beginning of Year 2 . v. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2 . b. What is the firm's horizon, or continuing, value? Do not round intermediate calculations, found your answer to the nearest cent. 5 E. What is the firm's intrinaic value today. P^e ? Do not round intermediate calculations. found vour answer to the nearest cent. 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 carnings and dividends are declining at the constant rate of 3% per year. If D0=$6 and rs=18%, what is the value of Maxwell Mining's stock? Round your answer to the nearest cent