When Hurricane Katrina struck New Orleans, there was a significant loss of aquarium fish at the Audubon Aquarium of the Americas. FEMA originally stated that the aquarium needed to buy the fish from commercial vendors, a method the agency said would cost $616,849 but would comply with disaster aid laws. FEMA later reversed their decision and allowed the aquarium staff to catch the fish themselves at a total cost of $99,766.

If it is assumed that the aquarium staff spent the

$99,766 equally over a 12-month period of time, what rate of return per month did their effort represent?

Assume FEMA would have given the aquarium the $616,849 at the end of month 12.