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 located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Current market price per share $41.00 Dividend growth rate 9% Projected dividend per share next year $2.05 Underpricing Flotation cost per share per share $1.50 $1.75 a. The cost of retained earnings is %. (Round to two decimal places.) b. The cost of new common stock is %. (Round to two decimal places.)