Check My Work (3 remaining) eBook Problem Walk-Through = Jarett & Sons's common stock currently trades at $24.00 a share. It is expected to pay an annual dividend of $3.00 a share at the end of the year (D1 $3.00), and the constant growth rate is 5% a year. a. What is the company's cost of common equity if all of its equity comes from retained earnings? Do not round intermediate calculations. Round your answer to two decimal places. % b. If the company issued new stock, it would incur a 15% flotation cost. What would be the cost of equity from new stock? Do not round intermediate calculations. Round your answer to two decimal places. % Check My Work (3 remaining) 0= Icon Key