Given the following information about a CMO (same set-up as previous question):

- 6 million of mortgage pool principal assigned to the floater class. 4 million assigned to the inverse floater class.

- Floater class coupon rule: LIBOR + 0.2%

- Inverse floater class coupon rule: 12.5% - L x LIBOR

- LIBOR in the first month is 2%

What is the coupon rate of the inverse floater class in the first month?