Retained earnings versus new common stock Using the data for a firm shown in the following table, calculate the cost of retained earnings and the cost of new common stock using the constant-growth valuation model. (Click on the icon located on the top-right corner of the data table below in order to copy its contents into a spreadsheet.) Projected Current market Dividend dividend per price per share growth rate share next year $39.00 9% $2.73 Underpricing Flotation cost per share per share $2.00 $2.50 a. The cost of retained earnings is %. (Round to two decimal places.)