Ellington Electronics wants you to calculate its cost of common stock. During the next 12 months, the company expects to pay dividends () of $240 per share, and the current price of its common stock is $30 per share. The expected growth rate is 6 percent. (Do not round Intermediate calculations. Round the final answers to 2 decimal places.) a. Compute the cost of retained earnings (x) Cost of retained earnings % b. If a $2.0 flotation cost is involved, compute the cost of new common stock (Kn). Cost of new common stock %