Coherence and the Hilbert-syzygy identity for power series over valuation domains

Let V be a complete valuation domain of rank 1, and let $Γ$ be its value group. We investigate the power series ring $V[[t]]$, and finally answer the long standing question of when this ring is coherent. Specifically, we prove that it is coherent if and only if V is almost maximal, and either Γ= R or $Γ$ is discrete. Furthermore, we demonstrate that the weak Hilbert-syzygy identity $w. dim V [[X]] = w. dim V + 1$ holds if and only if $V[[X]]$ is a coherent ring.