Franklin Templeton has just invested $10,260 for his son (age one). This money will be used for his sons education 20 years from now. He calculates that he will need $168,197 by the time the boy goes to school. What rate of return will Mr. Templeton need in order to achieve this goal? Use Appendix B for an approximate answer, but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)