4. Problem 9.04 (Nonconstant Growth Valuation) cook Problem Walk Through Holt Enterprises recently paid a dividend, Do, of 51.50. It expects to have no constant growth of 20% for 2 years followed by a constant rate of 4 thereafter. The firm's required retum 12 a. How far away is the horizon date? 1. The terminal, or horizon, dat is infinity since common stocks do not have a maturity date. 11. The terminal, or horizon, dat is Year since the value of a common stock is the present value of all future expected dividends at time zero II. The terminat, or horizon, dat is the date when the growth rate becomes non constant. This occurs at time zero TV. The terminal, or horison, dat is the date when the growth rate becomes constant. This occurs at the beginning of Year 2 V. The terminal, or heriton, date is the date when the growth rate becomes constant. This occurs at the end of Year 2 What is the firm's horizon, or continuing, value? Do not round intermediate calculations. Round your answer to the nearest cent. What is the w' intrinsic atan todoDo not round Intermediate calotations Hound your answer to the nearest cont