The Telwar Company has just gone public. Under a firm commitment agreement, the company received $$17\mathrm{.}80$ for each of the $25$ million shares sold. The initial offering price was $$19\mathrm{.}40$ per share, and the stock rose to $$22\mathrm{.}90$ per share in the first few minutes of trading. The company paid $$840,000$ in direct legal and other costs and $$320,000$ in indirect costs. What was the flotation cost as a percentage of funds raised? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

The answer is NOT $24\%$ or $0\mathrm{.}24\%$