Hoit Enterprises recently paid a dividend, Do, of $4.00. It expects to have nonconstant growth of 12% for 2 years followed by a constant rate of 3% thereafter. The firm's required return is 12% 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 stecks do not have a maturity date. V. The terminal, or horiton, date is Year 0 since the value of a common stock is the present value of all future expected dividends at time zero. b. What is the firmis horten, or continuing, value? Do not round intermediate caiculations. flound your answer to the nearest cent. 1 c. What is the firm's intrinuc value today, P^0. Do not round intermeciate calculations. Round your anower to the nearest cent