Problem 11-18 Growth rates and common stock valuation (L011-3) Business has been good for Keystone Control Systems, as indicated by the four year growth in earnings per share. The earnings have grown from $100 to $2 34 1. Determine the compound annual rate of growth in earnings (n = 4). (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Compound annual rate of growth 23.08 b. Based on the growth rate determined in part a project earnings for next year (Ex) (Do not round intermediate calculations. Round your answer to 2 decimal places.) E1 Check my work c. Assume the dividend payout ratio is 60 percent Compute D: (Do not round intermediate calculations. Round your answer to 2 decimal places.) d. The current price of the stock is $22. Using the growth rate (s from part a and (D) from partc, compute Ke (Do not round intermediate calculations, Input your answer as a percent rounded to 2 decimal places.) % e. If the flotation cost is $2.50, compute the cost of new common stock ik) using growth rate (g) from parta and dividend (s) from