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 $65 00 $3.90 Underpricing Flotation cost per share per share $2.50 $1.50 6% . The cost of retained earnings is % (Round to two decimal places)