GoldRush.com's common stock sells for $56 per share, and the flotation costs of a new common stock issue are expected to be 12 percent. The firm's dividend payout ratio is 50%, and it just paid a $2.50 dividend. Its earnings per share (EPS) 4 years ago were $3.00. And its earnings growth rate is expected to continue at the same rate in the future as that in the past 4 years. The firm's marginal tax rate is 36%. Answer the following questions. a. What is the firm's cost of internal common equity? 1% (Round to two decimal places.) b. What is the firm's cost of external common equity? 1% (Round to two decimal places.)