Could you please explain how the NPV was found using excel

Page of 14 0 ZOOM + Multi-State Growth Model Calculate GE's intrinsic value using the multi-stage growth model. Last year's dividend was 0.48 per share and the stock's expected return is 10.56%. The dividend is expected to grow 20% for two years and then 4.60% forever after. Year 0 Year 1 Year 2 Year 3 0.48 0.58 0.72 0.69 + 12.08 12.77 10.97