5. Problem 9.04 (Nonconstant Growth Valuation) a. How far away is the horizon date? 1. The terminal, or horizon, date is the date when the growth rate becomes coestarit. This occurs at the end of rear 2. II. The terminal, or herizon, date is infinity since common stocks do not hame a maturity date. III. The terminal, or horizon, date is Year 0 slince the value of a common stock is the present value of all fucure expected dividends at time zero. IV, The terminal, or horizon, date is the date when the growth rate becomet nencuastant, This occurs at tine zera. v. The terminal, or harizon, date is the date when the orowth rote becomes conitant, This occurs at the beqinning of vear 2 . b. What is the firms horizon, or continuing, value? Do not round intermediate cakulatiansi flound your answer to the nearest cent. c. What is the firm's intrinsic value today, P^0? Do not round intermediate calculatborib. Round your arswer to the fectest ceet