A property can be purchased for $105,000 subject to an assumable loan at 9% (below market rates) with 15 years remaining, a balance of $70,000 and payments of 709.99. A comparable property without special financing costs $100,000 and a loan for $70,000 can be obtained at 11% for 15 years. What is the borrowers effective yield by paying the extra $5,000 for the assumable loan (annualize your answer, answer in percentage form without "%"; Ex: 9.2% would be 9.2)