Mary's Bakery has common stock with a current price of $79 and paid dividends last year of $2.34. Common stock floatation costs are $12.65 per share and the growth rate on common stock is 7%. The firm's preferred stock sells for $109 with a $9.50 dividend per share and floatation costs of $6.25 per share.

use four decimals places in the calculation.

Calculate the cost of preferred stock

Calculate the cost of common stock

Calculate the cost of retained earnings.