$($Cost of internal equity$)$ Pathos$$ Co$.\text{'}$s common stock is currently selling for $$$$27\mathrm{.}55$ Dividends paid last year were $$$$1\mathrm{.}40$ Flotation costs on issuing stock will be $12$ percent of market price. The dividends and earnings per share are projected to have an annual growth rate of $9$ percent. What is the cost of internal common equity for$$ Pathos? The cost of internal common equity for Pathos is enter your response here$\%.($Round to two decimal$$ places.$)$