Tina purchases a new computer by financing it on the' "no payment until next year plan. The cash price of the computer is $1421. The financing agreement requires equal payments every month for two years. If the first payment of $93 is due at the beginning of the month starting one year after the date of purchase, and interest is 28.0% compounded monthly during the first year, what is the monthly compounded nominal interest rate for the following two years?

The nominal interest rate is: __ % compounded monthly. (Round the final answer to two decimal places. Round all intermediate values to six decimal places as needed.)