A well-known financial writer argues that he can earn an extremely high return buying wine by the case. Specifically, he assumes that he will consume one $9 bottle of fine Bordeaux per week for the next 12 weeks. He can either pay $9 per week or buy a case of 12 bottles today. If he buys the case, he receives a discount of 7 percent. Assume he buys the wine and consumes the first bottle today. What is the EAR of purchasing wine by the case with this discount? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)