A stock is selling at $$115\mathrm{.}00.$ The firm is going to pay the next dividend $($D$1)$ at $$6\mathrm{.}25$ per share. Assume that the growth rate g$=0\%.$ What would be the cost of equity raised by selling new stocks, assuming that the flotation cost is zero? $($Hint: Find the required rate of return.$)$