4. Xanton, Ltd. paid a $4 dividend last year and expects dividends to grow at a constant rate of 3.5%. The firm's shares are selling for $75 per share and flotation costs on a new issue are 6% the share price. Be sure to label your answer a) or b). Ambiguous answers are marked wrong. 5. a) Find the cost of issuing new equity. (3 points) b) Find the cost of retained earnings. (2 points)