White Lion Homebuilders has a current stock price of $22.35 per share, and is expected to pay a per-share dividend of $2.45 at the end of next year. The company's earnings' and dividends' growth rate are expected to grow at the constant rate of 5.20% into the foreseeable future. If White Lion expects to incur flotation costs of 5.00% of the value of its newly-raised equity funds, then the flotation-adjusted (net) cost of its new common stock (rounded to two decimal places) should be Sunny Day Manufacturing to earnings for this year is expected to be $745,000. Its target 6.16% capital structure consists of 50 5% preferred, and 45% equity. Determine Sunny Day Manufacturing Company's retained earnings breakpoint: $1, 986, 667 $1, 655, 556 $1, 903, 889 $1, 738, 334