Calculate the fair value based on the following information:

Current dividend = $1.67

Normal growth rate = 2%

Super growth rate = 12%

Duration of the super growth rate = 4 years

Required return 8.5%

Please show a different way from the normal Fair value eqution: D0* (1+g1)^1 / (1+r)^1............

- Excel is possible. Just need to show two ways of solving this problem.