Voost paid a dividend of 30 cents last year and expect that dividends will grow at an annual rate of 3%.

The current price of the Voost share is $2.17.In addition Voost issued 5 year bonds with a $1,000 face value that pays $60 annual coupon.The market's required yield-to-maturity on a compariable-risk bond is 9%.

Using the Gordon model what is the required rate of return for the Voost share? What is the maximum price that you would be willing to pay for the Voost bond?