Flatstone Brewery is a firm with a cost of equity of $22\mathrm{.}22\%$ and a capital structure that consists of $49\%$ debt and $51\%$ equity. The firm announces that it will repay all of its debts and pursue a zero$-$debt policy. Find the new cost of equity if the firm's cost of debt is $4\mathrm{.}6\%$ and the tax rate is $10\%.$