Oriole Hand Trucks has a preferred share issue outstanding that pays a dividend of $$1\mathrm{.}30$ per year. The current cost of preferred equity for Oriole is $8\mathrm{.}70$ percentIf Oriole issues additional preferred shares that pay exactly the same dividend and the investment banker retains $6\mathrm{.}20$ percent of the sale price. What is the cost of the new preferred shares for Oriole $?($ Round intermediate calculations to $4$ decimal places $,$ e$.$g$.1\mathrm{.}2514$ and final answer to $2$ decimal places $,$ e$.$g$.15\mathrm{.}25)$