Bakins Ine's common stock currently sells for $20.00 per share the company expects to earn $3.40 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, O 1.41 O2.11 COM d. 1.109 103