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 ord copy the contents of the data table below into a spreadsheet.) Current market Dividend price per share growth rate $53.00 7% Projected dividend per share next year $2.12 Underpricing Flotation cost per share per share $1.00 $2.25 a. The cost of retained earnings is 11 %. (Round to two decimal places.) b. The cost of new common stock is %. (Round to two decimal places.)