Retained earnings versus new common stock Using the data for a firm shown in the following table, calculate the cost of retained eamings and the cost of new common stock using the constant-growth valuation model. Click on the icon located on the top-right corner of the data table below in order to copyits contents into a spreadsheet) Projected dividend per share next year $2.80 Current market price per share $70.00 Dividend growth rate 8% Underpricing Flotation cost per shareper share $2.00 $1.50 The cost of retained earnings is %. (Round to two decimal places.) a