Cloudcroft Chocobte Co$.$ expects to earn $$3\mathrm{.}50$ per share during the current yea, its expected diflend porout ratio is $65\%,$ its expected constant dividend growth rate is $6\mathrm{.}0\%,$ and its common stock currently sets for $$55\mathrm{.}00$ per share. New stock can be sold to the public at the current price, but a flotation cost of $5\%$ would be incurred. What would be the cost of equality from new common stock? Do not round your intermediate calculations.

$10\mathrm{.}77\%$

$11\mathrm{.}49\%$

$10\mathrm{.}25\%$

$12\mathrm{.}42\%$

$10\mathrm{.}66\%$