Eakins Inc.'s common stock currently sells for $55.00 per share, the company expects to earn $2.65 per share during the current year, its expected payout ratio is 80%, 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. 0.52% b. 0.42% c. 0.29% d. 0.36% e. 0.34%