Tip Top Hats $($TTH$)$ is expected to grow at a $4$ percent rate for as long as it is in business. Currently the companys common stock is selling for $$31$ per share. The most recent dividend paid by TTH was $$2\mathrm{.}00$ per share. If new common stock is issued, TTH will incur flotation costs equal to $8\mathrm{.}0$ percent. a$.$ What is the companys cost of retained earnings? Round your answer to two decimal places. b$.$ What is its cost of new common equity? Round your answer to two decimal places.