KLC Mining is borrowing money from Superior National Bank to finance the construction of a new plant in Wisconsin. The bank will loan them $1,969,753 at 12% interest per year, compounded monthly. Find the after tax cost (effective yearly percentage rate) of raising capital by using this loan if the corporate tax rate is 30%? (Note: round your answer to two decimal places, and do not include spaces, percentage signs, plus or minus signs, nor commas. If your answer is 15%, write 15, not 0.15)