Big Dom$$s Pawn Shop charges an interest rate of $27\mathrm{.}7$ percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers.

a$.$ What rate should the shop report? $($Do not round intermediate calculations and enter your answer as a percent rounded to $1$ decimal place, e$.$g$.,32\mathrm{.}1.)$

b$.$ What is the effective annual rate?