Moonscape has just completed an initial public offering. The firm sold three million shares at an offer price of $$10$ per share. The underwriting spread was $$0\mathrm{.}4$ a share. The price of the stock closed at $$13$ per share at the end of the first day of trading. The firm incurred $$110,000$ in legal, administrative, and other costs.

What were flotation costs as a fraction of funds raised? $($Round your answer to $1$ decimal place.$)$

Flotation costs $\_\_\_\_\_\_\_\_\_\_\_\%$