Sun Instruments expects to issue new stock at $36 a share with estimated flotation costs of 9 percent of the market price. The company currently pays a $1.70 cash dividend and has a 3 percent growth...

Sun Instruments expects to issue new stock at $36 a share with estimated flotation costs of 9 percent of the market price. The company currently pays a $1.70 cash dividend and has a 3 percent growth rate. What are the costs of retained earnings and new common stock? Round your answers to two decimal places.

Costs of retained earnings:   %

Cost of new common stock:   %