Holt Enterprises recently paid a dividend, do, of $1.00. It expects to have nonconstant growth of 18% for 2 years followed by a constant rate of 7% thereafter. The firms required return is 9%

Book Problem Walk-Through Hoit Enterprises recently paid a dividend, Do. of $1.00. It expects to have no constant growth of 18% for 2 years followed by a constant rate of 74 thereafter The firm's required return is 3. How far away is the horizon date? 1. The terminal, or horizon, date is infinity since common stocks do not have a maturity date. II. 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 rero 11. The terminal, or horizon, date is the date when the growth rate becomes no constant. This occurs at time zero IV. The terminal, or hortzon, date is the date when the growth rate becomes constant. This occurs at the beginning of Year 2 V. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2 -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, PoDo not round Intermediate calculations. Round your answer to the neprest cont