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Sun Instruments expects to issue new stock at $35 per share with estimated flotation costs of 7 percent of the market price. The company currently

Sun Instruments expects to issue new stock at $35 per share with estimated flotation costs of 7 percent of the market price. The company currently pays a $2.10 cash dividend and has a 8 percent growth rate. What are the costs of retained earnings and new common stock?

Round your answers to two decimal places.

Costs of retained earnings: %

Cost of new common stock: %

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