Holt Enterprises recently paid a dividend, D 0 , of $3.75. It expects to have nonconstant growth of 23% for 2 years followed by a constant rate of 6% thereafter. The firm's required return is 9% What...

Holt Enterprises recently paid a dividend, D₀, of $3.75. It expects to have nonconstant growth of 23% for 2 years followed by a constant rate of 6% thereafter. The firm's required return is 9%

• What is the firm's intrinsic value today,
  P̂
  ₀? Round your answer to two decimal places. Do not round your intermediate calculations.