A business intends to use 90-day bank-accepted bills futures to hedge the interest rate risk resulting from its plans to borrow approximately $30 million using the issue of commercial paper in three months. The yield on commercial paper is currently 6.46% p.a. and the 90-day bank-accepted bill futures are currently priced at 95.45. The effective cost of funds if, in three months time the yield on commercial paper is 7.2%p.a. and the 90-day bank-accepted bills futures contract is priced at 94.63, is ______ % p.a. (rounded to two decimal places)