Which of the following statements is CORRECT?

		Since the money is readily available, the after-tax cost of retained earnings is usually much lower than the after-tax cost of debt.
		When calculating the cost of preferred stock, a company needs to adjust for taxes, because preferred stock dividends are tax deductible.
		If a companys tax rate increases but the YTM of its non-callable bonds remains the same, the after-tax cost of its debt will fall.
		All else equal, an increase in a companys stock price will increase its cost of retained earnings.
		All else equal, an increase in a companys stock price will increase its cost of new common equity.