Check My Work Click here to read the book valuing Nonconstant Growth Stocks NONCONSTANT GROWTH VALUATION Hoit Enterprises recently paid a dividend, Do, of $3.50. It expects to have nonconstant growth of 13% for 2 years followed by a constant rate of 6% thereafter. The firm's required returns 14% 6. How far away is the horizon date? 1. The terminal, or horizon, date is Year 0 nince the value of a common stock is the present value of all future expected dividends at time zero. II. 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; TV. The terminal, or horizon, dat is the date when the growth rate becomes constant. This occurs at the end of Year 2 V. The terminal, or horizon, dute la infinity suce common stocks do not have a maturity date. -Select D. 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, Pi? Round your answer to two decimal places. Do not round your intermediate calculations. Check My Work