Axis Credit wants to earn an effective annual return on its consumer loans of $14\%$ per year. The financing company uses daily compounding on its loans. What interest rate is Axis required by law to report to potential borrowers? $($Do not include the percent sign $(\%).$ Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to $2$ decimal places $($e$.$g$.,32\mathrm{.}16).)$