The treasurer of a credit union proposes changing the method of compounding interest on premium savings accounts to semi dash annual compounding. If the current rate is $10\mathrm{.}4\%$ compounded monthly$,$ what nominal rate should the treasurer suggest to the board of directors to maintain the same effective rate of$$ interest?

Question content area bottom

Part $1$

The new nominal rate of interest should be

$$

enter your response here$\%.$

$($Round the final answer to four decimal places as needed. Round all intermediate values to six decimal places as$$ needed.$)$