Question: Check My Work eBook Problem 21-02 Sun Instruments expects to issue new stock at $40 a share with estimated flotation costs of 7 percent of

Check My Work eBook Problem 21-02 Sun Instruments expects to issue new stock at $40 a share with estimated flotation costs of 7 percent of the market price. The company currently pays a $1.50 cash dividend and has a 6 percent growth rate. What are the costs of retained earnings and new common stock? Round your answers to two decimal places. Costs of retained earnings: Cost of new common stock

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