$($Cost of common equity$)$ Falon Corporation is issuing new common stock at a market price of $$27\mathrm{.}38.$ Dividends last year were $$1\mathrm{.}25$ and are expected to grow at an annual rate of $6\mathrm{.}7$ percent forever. What is Falon's cost of common equity capital? $($ round to $2$ decimal places$)$