Green Caterpillar Garden Supplies Inc. is considering a one$-$year project that requires an initial investment of $$400,000$; however, in raising this capital, Green Caterpillar will incur an additional flotation cost of $3\%.$ At the end of the year, the project is expected to produce a cash inflow of $$520,000.$ The rate of return that Green Caterpillar expects to earn on the project after its flotation costs are taken into account is $.$