\begin{aligned}P V &=\sum_{t=1}^{T} \frac{D_{0}\left(1+g_{1}\right)^{t}}{(1+r)^{t}}+\frac{P V_{T}}{(1+r)^{T}} \\&=\sum_{t=1}^{T} \frac{D_{0}\left(1+g_{1}\right)^{t}}{(1+r)^{t}}+\frac{1}{(1+r)^{T}} \times \frac{D_{T+1}}{r-g_{2}}\end{aligned}