Question on calculating Continuing Value of Dividends based on Perpetuity Growth Model: In my spreadsheet below, I want to calculate the following:

*Perpetuity with Growth Factor

*Continuing Value of Dividend in Year 6.

I know the formula for the Perpetuity Growth Factor is 1/Re-g. (Required Return on Equity or Cost of Capital is 7.05%, previously calculated.) The answer is supposed to be:430,150 million, but I keep getting 424,840. Please explain.

Year +1 Year +2 Year +3 Year +4 Year +5 Year +6 3% 17206 12837.93 12592.82 12,351.22 12,115.00 11882.64 11,432.99 5% 13743 5% 14431 5% 15152 5% 15910 5% 16705 Projected Growth Projected Total Div PV of Dividends Sum of PV of Dividends Perpetutity with Growth Factor1/Re-g Continuing value of dividend Y6 61780