(Cost of equity)The common stock for the Bestsold Corporation sells for $59 If a new issue is sold, the flotation costs are estimated to be 11 percent. The company pays 70 percent of its earnings in dividends, and a$3.50 dividend was recently paid. Earnings per share 4 years ago were $3.00.Earnings are expected to continue to grow at the same annual rate in the future as during the past 4 years. The firm's marginal tax rate is 35percent. Calculate the cost of

(a)internal common equity and (b)external common equity.