Jarett 65 ons' common stock currently trades at $24.00 a share. It is expected to poy an annual dividend of $1.00 a share at the end of the year ( D1=$1.00 ), and the constant growth rate is 6% a year. a. What is the company's cost of comman equity if all of its equity comes from retained eamings? Do not round intermediate calculations. Round your answer to two decimal places. b. If the company issued new stock, it would incur a 9% flotation cost. What would be the cost of equity from new stock? Do not round intermediate calculatians. Round youranswer to two decimal places. \%