(b) Consider the following two financial assets: (1) an ordinary share that is expected to pay a dividend of 4 next year with dividend growth expected to be 2.5% per annum thereafter; (2) a corporate bond with an annual coupon rate of 4%, par (face) value of 100, and maturity in 3 years time. If the required return on similar US equities is 9% and on similar US bonds is 3%, calculate the value of the US stock and the US bond. [7 marks] (c) Using the data given above and assuming an annual discount rate, calculate the duration of the corporate bond. [5 marks]