Cullumber Enterprises would like to have $$1,080,000$ saved up in $8$ years to fund equipment and building upgrades. If Cullumber invests $$182,000$ today and commits to depositing $$50,400$ at the end of each of the next $8$ years, what annual interest rate must the fund earn to reach $$1,080,000?($Do not round intermediate calculations. Round final answer to $2$ decimal places, e$.$g$.$

What is the annual interest rate?