Holt Enterprises recently paid a dividend, D0, of $2.75. It expects to have nonconstant growth of 20% for 2 years followed by a constant rate of 4% thereafter. The firm's required return is 12%.

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

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