A firm's preferred stock pays an annual dividend of $$7,$ and the stock sells for $$84.$ Flotation costs for new issuances of preferred stock are $7\%$ of the stock value. What is the after$-$tax cost of preferred stock if the firm's tax rate is $36\%?$

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

Multiple Choice

$7\mathrm{.}61$

$11\mathrm{.}11$

$10\mathrm{.}41$

$$