George desires to buy a house for $105,000. The down payment of this house is 20% and therefore the mortgage he can get is equal to 80% of the house's value. A lender indicates to George that he can obtain a 30-year FA-FRM (fully amortizing fixed rate mortgage) at an interest rate equal to 12%; However, in order for George to get this mortgage, he needs to pay $3,500 in origination fees. What is the true APR that the lender must disclose to George? * Report your answer as a percentage (without the symbol %), with 2 decimals.