Could you please solve both parts and show your steps for solving them in excel. Thank you

Equity Valuation Review problem #35 PART-1 Suppose that a firm pays out 80% of its earnings in the form of cash dividends. If analysts expect the firm to generate a constant ROE of 18% for the foreseeable future, then what growth rate in dividends can equity investors expect from the firm? PART-2 As an equity analyst, you observe a firm with P/E ratio of 22. Like firms in the same industry trade with a P/E of 19. All else equal, what trading strategy attempts to take advantage of the apparent disparity