Zhu Ye passed the M&A master's degree in Corporate Finance, but I couldn't find the answer after searching online for a long time. I made it myself. Help me see if it's right. Thank you.

There are many mistakes. If the company is a wholly-owned company, if the net income per share grows by 4% permanently, then EBIT should also grow by 4% permanently, which means that your formula for calculating the discount rate is wrong. In addition, the meaning of G in the formula of g=ROE*( 1-b) is the dividend growth rate, not the net income per share growth rate given in the question.