ABC Company acquired an asset at a cost of P46,600 with an estimated life of 10 years. Annual after-tax net cash benefits are estimated to be P10,000 at the end of each year. The following amounts appear in the interest table for present value of an annuity of P1 at year-end for 10 years.

16% - 4.83

18% - 4.49

20% - 4.19

What is the maximum interest rate that could be paid for the capital employed over the life of this asset without loss on this project?