After completing your $2021$ income tax return, you discover that you owe income tax. You can either pay the late payment penalty at $6\%$ compounded daily for one year or borrow the money you need to pay your taxes.

Below what semiannually compounded rate will the loan cost you less in interest? $($Do not round the intermediate calculations. Round your answer to $2$ decimal places.$)$

Below

$\%$