Which of the following is the formula of Gordon Model of Dividend policy ?

Myron J. Gordon's dividend growth valuation model states that the market value of a share (V or P) is determined by the present value of an infinite stream of growing dividends: V = E(1 - b) / (K - br), where E is earnings per share, b is the retention ratio, (1 - b) is the dividend payout ratio, K is the cost of equity capital, and br (= g) is the sustainable growth rate.