Jarett & Sons's common stock currently trades at $$27\mathrm{.}00$ a share. It is expected to pay an annual dividend of $$1\mathrm{.}75$ a share at the end of the year $($D$1=$ $$1\mathrm{.}75),$ and the constant growth rate is $6\%$ a year. 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.$\%?$If the company issued new stock, it would incur a $12\%$ flotation cost. What would be the cost of equity from new stock? Do not round intermediate calculations. Round your answer to two decimal places.$\%?$