Business has been good for Keystone Control Systems, as indicated by the four-year growth in earnings per share. The earnings have grown from $1.00 to $1.63. a. Determine the compound annual rate of growth in earnings (n = 4). b. Based on the growth rate determined in part a, project earnings for next year (E1). (Round to two places to the right of the decimal point.) c. Assume the dividend payout ratio is 40 percent. Compute (D1). (Round to two places to the right of the decimal point.) d. The current price of the stock is $50. Using the growth rate (g) from part a and (D1) from part c, compute Ke. e. If the flotation cost is $3.75, compute the cost of new common stock (Kn). Solution Problem 11-18 Instructions Using the assumptions below, enter formulas and functions to solve the requirements of this problem. Information provided: Year 1 earnings $1.00 Year 6 earnings $1.63 Dividend payout 40% Current stock price $50 Flotation costs $3.75 per share Instruction: (Round intermediate and final values to two decimal places, except in requirement a.) a. Use the MS Excel RATE function to determine the compound annual rate of growth in earnings (n = 4). Annual growth rate FORMULA b. Based on the growth rate determined in part a, project earnings for next year (E1). (Round to two places to the right of the decimal point.) Next year's earnings, E1 FORMULA c. Assume the dividend payout ratio is 40 percent. Compute (D1). (Round to two places to the right of the decimal point.) Next year's dividend, D1 FORMULA d. The current price of the stock is $50. Using the growth rate (g) from part a and (D1) from part c, compute Ke. Ke FORMULA e. If the flotation cost is $3.75, compute the cost of new common stock (Kn). Kn FORMULA Please provide the Excel formulas for the solution. Thank you