Tamarisk pays interest at the end of each year. On January $1,2027,$ Tamarisk Inc. pays $$2\mathrm{.}66$ million in cash to Carla Vista Bank. Carla Vista Bank prepares financial statements in accordance with IFRS $9.$ There is no evidence of a significant increase in credit risk and $12-$month expected credited losses are calculated at zero. For simplicity, assume Carla Vista Bank had not recognized any impairment prior to this $($although it likely would have done so under the expected loss model$).$ What interest rate should Carla Vista Bank use to calculate the loss on the debt restructuring?