An insurance company earned a simple rate of interest of 7.9% over the last calendar year based on the following information:

Assets, beginning of year	24,750,000
Sales revenue	X
Net investment income	2,040,250
Salaries paid	2,200,000
Other expenses paid	750,000

All cash flows, other than the investment income, occur at the middle of the year. The investment income is received at the end of the year.

Calculate the effective yield rate.