You are in charge of estimating you company's weighted average cost of capital. The company's target capital structure is $30\%$ debt, $20\%$ preferred stock, and $50\%$ common stock. Its current before$-$tax cost of debt is $6\mathrm{.}9\%,$ and flotation cost for debt can be ignored. Its preferred stock has a before$-$tax cost of $12\mathrm{.}6\%.$ The company has just paid a common stock dividend $($Do$)$ of $$4\mathrm{.}23$ and expects to have a constant dividend growth rate of $6\%.$ Its common stock currently sells for $$30$ per share. Flotation cost on new common stock would total $7\mathrm{.}1\%.$ Its tax rate is $40\%.$

Compute $($a$)$ the company's cost of newly issued common stock $($using the Dividend Growth Model$)$ and $($b$)$ the company's WACC when the newly issued common stock is used as the common equity component. Round your answers to two decimal places of $\%,$ but ignore $\%$ in your answer, e$.$g$.,$ xx$.$xx$.($Hint: Measure the cost of common stock first and then use the WACC formula$)$

Cost of common stock $=\%$ ; Company WACC $=\%$