Holt Enterprises recently paid a dividend, D$0,$ of $$3\mathrm{.}75.$ It expects to have nonconstant growth of $14\%$ for $2$ years followed by a constant rate of $10\%$ thereafter. The firm's required return is $17\%.$

$1.$How far away is the horizon date? Options:

a$.$ The terminal, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero.

b$.$ The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the beginning of Year $2.$

c$.$ The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year $2.$

d$.$ The terminal, or horizon, date is infinity since common stocks do not have a maturity date.

e$.$ 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.

$2.$What is the firm's horizon, or continuing, value? Do not round intermediate calculations. Round your answer to the nearest cent.

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$3.$ What is the firm's intrinsic value today? Do not round intermediate calculations. Round your answer to the nearest cent.

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