Evergreen Credit Corporation wants to earn an effective annual return on its consumer loans of $18\mathrm{.}5$ percent per year. The bank uses daily compounding on its loans. What interest rate is the bank required by law to report to potential borrowers?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$ Use $365$ days in a year.

Interest rate