The preferred stock of Winter Coalition Floors is selling for $$29$ a share with a $$2\mathrm{.}3$ quarterly payment. What is the firm's cost of preferred stock if the tax rate is $23$ percent? $($Express your answer in percentage and round it two decimal places, but do not include the percent sign, $\%,$ i$.$e$.,4\mathrm{.}65$ for $4\mathrm{.}65\%)$