Boer Inc. expects to pay a dividend $$1\mathrm{.}6$ in one year, it's current stock price is $$10\mathrm{.}13.$ and its dividend growth rate is $2\%$ per year. If Boer's investment bankers charge a flotation cost of $0\mathrm{.}13$ as a fraction of the price of a new stock issue, what is Boer's cost of issuing new equity?