A firm is paying an annual dividend of $$8\mathrm{.}00$ for its preferred stock which is selling for $$69\mathrm{.}00.$ There is a selling cost of $$2\mathrm{.}00.$ What is the after$-$tax cost of preferred stock if the firm's tax rate is $38\%?$

Note: Round your answer to $2$ decimal places.

Multiple Choice

$10\mathrm{.}59\%$

$13\mathrm{.}39\%$

$11\mathrm{.}94\%$

$14\mathrm{.}09\%$