Calculation Justified PE

How do you all calculate the justified trailing and leading PE?

In the CFAI Equity P. 249 they calculate the leading as (D0/E0)/(ke - g).

I tend to calculate trailing as (D1/E0)/(ke - g) and leading as (D1/E1)/(ke - g); which makes a lot more sense to me than what is mentionned in the textbook. We arrive at the same result though. Anyone would like to shed some light on this?

Thx!

It’s payout/r-g for leading, and payout(1+g)/r-g for trailing.

D0/E0 = D1/E1 = D2/E2 = payout

This article might be of some help: http://financialexamhelp123.com/justified-ratios-price-multiples/