Banyan's Co's common stock currently sells for $$57\mathrm{.}75$ per share. The growth rate is a constant $6\%,$ and the company has an expected dividend yield of $6\%.$ The expected long$-$run dividend payout ratio is $40\%,$ and the expected return on equity $($ROE$)$ is $10\mathrm{.}0\%.$ New stock can be sold to the public at the current price, but a flotation cost of $10\%$ would be incurred. What woyld be the cost of new equity?