Dividend V method

Dear Sir,
my question relates to the DVM as well as the valuation of the market value of a company.
in December 2014 exam there was a question in the MCQ’s where it was asked to calculate the market price of a company, dividend of 32c was just paid and dividend of 33.6 cents was to be paid in one year’s time. after calculating the growth the formula D1/RE-G was used. same thing goes for a question in June 2013 called GXG. the growth was only incorporated in the denominator i.e. subtracted from the cost of equity. my question is when do we incorporate the growth rate with the dividends as in d (1+g)/re-g and when do we just take the dividends given in the question?
same goes for the share price, in question PAR also in 2014 we were asked to find the market price of convertible loans, and instead of using the growth rate in the same way given in the formula above the answer shows that we go the growth rate then multiplied current share price by growth rate to the power of 7 which is the number of years until the notes are redeemed. when given the share price is that all we have to do? can we not apply the dividend formula of d (1+g)/re-g substituting dividend with share price the same way we would in the growth formula? I mean use current share price X (1 + g) or could that only be used if we’re given the most recent share price and we’re asked to give the current market value??
I hope I’m making sense I find all of this to be confusing myself