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 here in order to copy the contents of the data table below into a spreadsheet.) Current market price per share $58.00 Projected Dividend dividend per growth rate share next year 8% $2.32 Underpricing Flotation cost per share per share $2.50 $2.50 a. The cost of retained earnings is %. (Round to two decimal places.) b. The cost of new common stock is %. (Round to two decimal places.)