Big Dom$$s Pawn Shop charges an interest rate of $12\mathrm{.}75$ percent per month on loans to its customers. Like all lenders, Big Dom must report an APR to consumers.

What rate should the shop report?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

What is the effective annual rate?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$