Tip Top Hats $($ TTH $)$ is expected to grow at a $4$ percent rate for as long as it is in business $.$ Currently the company's common stock is selling for $ $36$ per share $.$ The most recent dividend paid by TTH was $ $2\mathrm{.}75$ per share If new common stock is issued $,$ TTH will incur flotation costs equal to $9\mathrm{.}0$ percent $.$ a $.$ What is the company's 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 $.\%$