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 Dividend growth rate Projected dividend per share next year Underpricing per share Flotation cost per share $53.00 6% $3.18 $1.00 $1.75 a. The cost of retained earnings is nothing%. (Round to two decimal places.) b.The cost of new common stock is ______%. (Round to two decimal places.)