A company common stock currently sells for $20.00 per share, the company expects to earn $2.80 per share next year (remember this is EPS not dividends), its expected payout ratio is 25%, and its expected constant growth rate is 4%. a) Calculate Dividend expected next year, D1? b) What is the cost of retained earnings? c) If we assume the company issues new stocks, and that means the co has a flotation cost of 10%, Can you calculate how much would be the Cost of new stocks? d) By how much would the cost of new stock exceed the cost of retained earnings