Calculate the equity dividend rate using the following information:

First year NOI: $$89,100$

Price of the property: $$1,056,000$

Mortgage terms: Loan to value ratio $=75\%,30$ year term, $6\mathrm{.}5\%$ contract rate, up$-$front fees of $3\%$ of loan amount $($assume monthly payment and monthly compounding$)$

$($Round your answer to two decimal places. If you calculate equity dividend rate as $11\mathrm{.}56\%,$ report it as $11\mathrm{.}56)$