please answer both

Holt Enterprises recently paid a dividend, D0, of $3.75. It expects to have nonconstant growth of 16% for 2 years followed by a constant rate of 9% thereafter. The firm's required return is 10%. a. How far away is the horizon date? 1. The terminal, or horizon, date is infinity since common stocks do not have a maturity date. 11. The terminal, or horizon, date is Year 0 since the value of a common stock is the present value of all future expected dividends at time zero. III. The terminai, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero. IV. The terminal, or horizon, 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. 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, Po? Do not round intermediate colculations. Round your answer to the nearest cent. Earley Corporation issued perpetual preferred stock with an 8% annual dividend, The stock currently yields 7%, and its par value is $100. Round your answers to the nearest cent a. What is the stock's value? b. Suppose interest rates rise and pull the preferred stock's yield up to 12%. What is its new market value? 8