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3. Problem 9.04 (Nonconstant Growth Valuation) cook Problem walkthrough Holt Enterprises recently paid a dividend,...

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3. Problem 9.04 (Nonconstant Growth Valuation) cook Problem walkthrough Holt Enterprises recently paid a dividend, Du of $1.00. It expects to have no constant growth of 21% for 2 years followed by a constant rate of 4% thereafter. The firm's required return is 18% 2. How far away is the horizon date? 1. The terminal, or horszon, Gate is Year since the value of a common stock is the present value of all future expected dividends at time zero I. The terminat, or horizon, dat is the date when the growth rate becomes nonconstant. This occurs at time pero III. The terminal, or horson, date is the date when the growth rate becomes constant. This occurs at the beginning of Year 2 IV. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2. The terminal, or horizon, dat is infinity since common stocks do not have a maturity date -Select b. What is the firm's horison, or continuing value? Do not round intermediate calculations, Round your answer to the nearest cent $ c. What is the firm's intrinsic value today, P. Do not round intermediate calculations. Round your answer to the nearest cent

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