Holt Enterprises recently paid a dividend, D0, of $2.25. It expects to have nonconstant growth of 17% for 2 years followed by a constant rate of 6% thereatee. The firm's regured return is 10%. a. How far away is the hocizn date? 1. The terminal, or herizon, date is Year 0 since the value of a common stock is the present value of all future expected alvidends at time zero. 11. The terminal, or hontor, date is the date when the growth rate becomes nonconstant. This cceurs at time zero. IIL. The torminal, or horteon, date is the date when the growth rate becomes constant. This ocours at the beginning of Year 2. IV. The termina, or horizon, date is the cote when the growth rate becomes constant. This occurs at the end of Year 2. X. The terminal, or horcoir, date is intinity since common stodes do not have o maturity date. b. What is the firm's hortuon, or continuing, value? Do not round insermediate calculations, Round your answer to the nearest cent: 5 c. What is the firm's intrinulic value today, P0 Do not rotind intermedute caloulations. Round your ansaer to the nearent cent. is