Spongebob

Clearly we have to get the value of the stage one div in order to get the portion value…
If g was less than r
there would have been a sneaky way to get the total pv of those div, but it cant work here
the method would be
get the value of an infinitely growing annuity (pays from time 1 till infinite) at time 0
but since in reality what we have is only an 8 year annuity
you subtract the value of an infinity growing annuity (from 9 till infinite) at time 8
might seem complicated but it realy is not,
all you do is (d0*(1+g))/(r-g))
and subtract
(d8*(1+g))/r-g))