Retained earnings versus new common stock Using the data for a firm shown in the following table, calculate the cost of retained earnings and the cost of new common stock using the constant-growth valuation model. (Click on the icon here in order to copy the contents of the data table below into a spreadsheet.) Current market Dividend price per share growth rate $57.00 7% Projected dividend per share next year $3.42 Underpricing per share $1.50 Flotation cost per share $2.25 a. The cost of retained earnings is %. (Round to two decimal places.)