The common stock of Builtrite is selling for $58. If new shares are sold, the flotation costs are estimated to be 8%. Builtrite pays half of its earnings as dividends and a $4 dividend was recently paid. Earnings per share were $5 five years ago and are expected to grow at the same rate in the future. The tax rate is 34%. What is the cost of new common stock and the cost of retained earnings?