Ross Textiles wishes to measure its cost of common stock equity. The firm's stock is currently selling for $38.34. The firm expects to pay a $3.46 dividend at the end of the year (2016). The dividends for the past 5 years are shown in the following table:

a. The growth rate of dividends from 2011 to 2015 is:__________

b. The nets proceeds are given as:__________

c. The cost of retained earnings is:__________

d. The cost of the new issue of common stock is:___________

Year 2015 2014 2013 2012 2011 Dividend per Share $3.11 $2.72 $2.46 $2.17 $2.04 5