A company has common stock that can be sold for $$75\mathrm{.}41$ per share. The stock paid a dividend at the end of last year of $$7\mathrm{.}23.$ Dividends are expected to grow at an annual rate of $11\%$ indefinitely. Flotation costs associated with the sale of stock equal $$6\mathrm{.}77$ per share. What is the corporation's cost of external equity? Submit your final answer as a percentage rounded to two decimal places $($Ex$.0\mathrm{.}00\%).$