How likely is this to be tested? This is a fomula involving expected inflation, EPS growth, P/E growth,expected income all minus rf. Then use that ERP in CAPM. A simpler approach is using GGM to estimate ERP: P0 = D1/(R_ce - g), where ERP = R_ce - rf.
I would think a question would distinctly ask for the equity risk premium using a multifactor model