Absalom Energy's $13\%$ coupon rate, semiannual payment, $$1,000$ par value bonds that mature in $20$ years are callable $2$ years from now at a price of $$950.$ The bonds sell at a price of $$1,100\mathrm{.}25,$ and the yleld curve is flat: Assuming that interest rates in the economy are expected to remain at their current level, what is the best estimate of the nominal interest rate on new bonds issued in $2$ years? Do not round intermediate calculations. Round your answer to two decimal places.$\backslash$

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