Murray Motor Company wants you to calculate its cost of common stock. During the next 12 months, the company expects to pay dividends (D1) of $3.20 per share, and the current price of its common stock is $66 per share. The expected growth rate is 10 percent. The computed cost of retained earnings is 14.85% If a $5 flotation cost is involved, compute the cost of new common stock (Kn)