Please show all work and explain calculations, Thank you

1) JKL Company has a 40% tax rate. JKL's bonds presently carry a yield to maturity of 9.23%. The common stock just paid a dividend of $2.20, is expected to grow at 4% per year forever and costs $18.33 per share. Flotation costs for new common stock are 8%. The capital structure consits of 40% debt and 60% common equity. a) What is the cost of equity if no new common or preferred stock is issued? b) What is the new cost of equity if new common must be issued