The Telwar Company has just gone public. Under a firm commitment agreement, the company received $$33\mathrm{.}80$ for each of the $4\mathrm{.}28$ million shares sold. The initial offering price was $$36\mathrm{.}20$ per share, and the stock rose to $$44\mathrm{.}60$ per share in the first few minutes of trading. The company paid $$923,000$ in legal and other direct costs and $$286,000$ in indirect costs. What was the flotation cost as a percentage of funds raised?

I calculated $30\mathrm{.}8553=30\mathrm{.}86$ but that answer is incorrect and I$\text{'}$m unsure what I did wrong.