Ioit Enterprises recently paid a dividend, Do, of $1.50. It expects to have nonconstant growth of 23% for 2 years followed by a constant rate of 6% thereafter. The firm's equired retum is 18%. 3. How far away is the horizon cate? 1. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the beginging of Year 2. II. The terminal, or horizon, date is the date when the growth rate becomes censtant. This occurs at the end of Year? 2 . ItL. The terminal, or horizon, date is infinity since common socks do not have a maturity date. FV. The terminal, or horzen, date is Year 0 since the value of a common stock is the present value of all future expected dividends at time zero. V. The terminal, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero. b. What is the fifm's horizon, of continuing, value? Do not round intermediste calculations. Round your answer to the nearest cent. 5 c. What is the firm's intrinsic value today, P07 Do not round intermediate calculations, Round your answer to the nearest cent