A company has common stock that can be sold for $$41\mathrm{.}08$ per share. The stock paid a dividend at the end of last year of $$1\mathrm{.}25.$ Dividends are expected to grow at an annual rate of $8\%$ indefinitely. Flotation costs associated with the sale of stock equal $$5\mathrm{.}32$ per share. What is the corporation$$s cost of external equity? Submit your answer as a percentage and round to two decimal places $($Ex$.0\mathrm{.}00\%)$