$($Estimated time allowance: $3$ minutes$)$ The following information is from a partial view of the balance sheet of a company. Compute the cost of preferred equity$/$stock$.$

Preferred stock: $10\%$ preferred with a current price of $$90.$ The par value of preferred stock is $$60.$ There are $80,000$ shares of the preferred stock outstanding. The tax rate is $20\%.$

What is the cost of preferred equity $(Rp)?$

For your answer, use percentage denomination and only use ONE decimal; do not enter the $\%$ sign. For example, if your final calculation results in $0\mathrm{.}24576$ then enter $24\mathrm{.}6$ ; if your final calculation results in $0\mathrm{.}04233$ then enter $4\mathrm{.}2$ ; if your final calculation results in $0\mathrm{.}20$ then enter $20\mathrm{.}0$ :