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 $62.00 Dividend growth rate 6% Projected dividend per share next year $2.48 Underpricing Flotation cost per share per share $1.50 $1.50 a. The cost of retained earnings is 10 %. (Round to two decimal places.) b. The cost of new common stock is %. (Round to two decimal places.)