Holt Enterprises recently paid a$.$dividend $,$ Do $,$ of $ $1\mathrm{.}75.$ It expects to have non constant growth of $18\%$ for $2$ years followed by a constant rate of $4\%$ thereafter $.$ The firm's required return is $15\%.$ a $.$ How far away is the horizon date $?$ I. The terminal $,$ or horizon $,$ date is the date when the growth rate becomes constant $.$ This occurs at the end of Year $2.$ II $.$ The terminal $,$ or horizon $,$ date is infinity since common stocks do not have a maturity date $.$ III $.$ The terminal $,$ or horizon $,$ date is Year since the value of a common stock is the present value of all future expected dividends at time zero $.$ IV $.$ The terminal $,$ or horizon $,$ date is the date when the growth rate becomes non constant $.$ This occurs at time zero $.$ V$.$ The terminal $,$ or horizon $,$ date is the date when the growth rate becomes constant $.$ This occurs at the beginning of Year $2.$ T $-$Select$-$ b What is the firm's horizon $,$ or continuing $,$ value $?$ Do not round intermediate calculations $.$ Round your answer to the nearest cent $.$ $ c $.$ What is the firm's intrinsic value today $,?$ Do not round intermediate calculations $.$ Round your answer to the nearest cent $.$