$($Individual or component costs of capital$)$ Compute the cost of the following: percent and its marginal tax rate is $22$ percent. company maintains a constant dividend$-$earnings ratio of $30$ percent. The price of this stock is now $$26,$ but $8$ percent flotation costs are anticipated.

d$.$ A preferred stock paying a dividend of $9$ percent on a $$140$ par value. If a new issue is offered, flotation costs will be $13$ percent of the current price of $$177.$ cash flows $($principal and interest$).$