Ellington Electronics wants you to calculate its cost of common stock. During the next 12 monthis, the company expects to pay dividends (1) of $370 per share, and the current price of its common stock is 576 per share. The expected growth rate is 7 percent (Do not round Intermediate calculations. Round the final answers to 2 decimal places.) a. Compute the cost of retained earnings (W) Cost of retained earnings b. If a $70 flotation cost is involved, compute the cost of new common stock Cost of new common stock %