larett 8 . Sons' common stock currently trades at $32.00 a share. It is expected to pay an annual dividend of 53.00 a share at the end of the year (Di wi $3.00 ), and the constant growth rote is 4% a yeac 3. 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 decimat placees. b. If the company issued new stock, it would incur a 10% fotation cost. What would be the cost of equity from newsatock? Do not round intermiediate calculations. flound your answer to two decimal places