answer both please.

The firm's required return is 14%. a. How far away is the horizon date? 1. The terminal, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero. II. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the beginning of Year 2. III. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2. IV. The terminal, or horizon, date is infinity since common stocks do not have a maturity date. V. 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. What is the firm's horizon, or continuing, value? Do not round intermediate calculations. Round your answer to the nearest cent. $ (2) What is the firm's intrinsic value today, P0 ? Do not round intermediate calculations, Round your answer to the nearest cent. You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $2.50 a share at the end of the year (D1=$2.50) and has a beta of 0.9 . The risk-free rate is 4.9%, and the market risk premlum is 6.0%. Justus currently sells for $46.00 a share, and its dividend is expected to grow at some constant rate, g. Assuming the market is in equilibrium, what does the market believe will be the stock price at the end of 3 years? (That is, what is P^3 ) Do not round interqqediate calculations. Round your answer to the nearest cent