9. Problem 9.04-Nonconstant Growth Valuation Click here to read the eBook: Valuing Nonconstant Growth Stocks NONCONSTANT GROWTH VALUATION Holt Enterprises recently paid a dividend Do of $2.0 It expects to have nonconstant growth of 25% for 2 years follo ed by a constant rate of 69 thereafter The im s required return s s a. How far away is the horizon date? I. The terminal, or horizon, date is the date when the growth rate becomes nonconstant. This occurs at time zero II. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the beginning of Year 2. III. The terminal, or horizon, date is the date when the growth rate becomes constant. This occurs at the end of Year 2. IV. The terminal, or horizon, date is infinity since common stocks do not have a maturity date. V. 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. Select- b. What is the firm's horizon, or continuing, value? Round your answer to two decimal places. Do not round your intermediate calculations c. What is the firm's intrinsic value today, Po? Round your answer to two decimal places. Do not round your intermediate calculations