(Cost of Capl.) BN Unicorn Co. common stock has a beta of 1.7 and is expected to pay a $2.51 dividend over the next year. The dividend is expected to grow at the constant rate of 5% per year. The risk-free rate is 0.59% and the return on the market index is 9.37%. What is the cost of new equity to the firm, in %, if the flotation costs of issuing it are 6%? (Drop the % symbol.)