The Telwar Company has just gone public. Under a firm commitment agreement, the company received $$25\mathrm{.}11$ for each of the $30$ million shares sold. The initial offering price was $$27$ per share, and the stock rose to $$32\mathrm{.}49$ per share in the first few minutes of trading. The company paid $$1\mathrm{.}4$ million in direct legal and other costs and $$375,000$ 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$.,32\mathrm{.}16.)$