A taxpayer can invest $10,000 in a money market fund that yields an annual pre-tax rate of return of 8.0% or buy an acre of land for $1,000 that appreciates at a 8.0% annual rate. The taxpayer plans to sell the land after 20 years and faces a 25% annual tax rate over the 20 years.

What is the annualized after-tax return after-tax rate of return for the land? Please enter in percent to the nearest tenth of a percent and without the "%" sign, use 4/5 rounding (0.1175 = 11.75%, enter: 11.8)