Jarett & Sons common stock currently trades at $21.00 a share. It is expected to pay an annual dividend or $1.75 a share at the end of the year (Di = $1.75), and the constant growth rate is 6% a year. a. What is the company's cost of common equity if all of its equity comes from retained earnings? Do not round intermediate calculations. Round your answer to two decimal places. % b. If the company issued new stock, it would incur a 15% flotation cost. What would be the cost of equity from new stock? Do not round intermediate calculations. Round your answer to two decimal places. %