A stock is expected to pay a dividend of $3.80 next year, and that dividend amount is expected to grow annually at a rate of 6% forever thereafter. The stock is currently trading at a price of $64 per share. Flotation costs associated with issuing this stock are estimated to be 8%. Calculate the cost of equity with and without a flotation cost adjustment. The change (increase) in RE after the flotation cost adjustment is ________%.