2 of 55 Eakins Inc.'s common stock currently sells for $37.50 per share, the company expects to earn $2.85 per share during the current year, its expected payout ratio is 70%, and its expected constant growth rate is 6.00%. New stock can be sold to the public at the current price, but a flotation cost of 8% would be incurred. By how much would the cost of new stock exceed the cost of retained earnings? Do not round your intermediate calculations. a. 0.66% b. 0,46% c. 0.94% d. 0.49% e. 0.39% Icon Key