A firm's common stock is currently selling for $65 per share. The dividend expected to be paid at the end of the coming year is $6.02. The dividend has been growing at 4% per year. It is expected that to sell, a new common stock issue must be underpriced $1.31 per share and the firm must pay $1 per share in flotation costs. What will the cost (required return or rate of the new issue of stock be? Post your answer as a percentage with 1 decimal place. 10.5 for example