Use the commission schedule from Company B shown in the table to find the annual rate of interest earned on the investment. (Note: commisions are rounded to the nearest cent.)

Principal (Value of Stock)	Commission
Under $3,000	$32+1.8% of principal
$3,000 - $10,000	$56+1.% of principal
Over $10,000	$106+0.5% of principal

An investor purchases

177

shares at

$37.98

a share, holds the stock for

300

days, and then sells the stock for

$46.03

a share. Assume a 360-day year.

The annual rate of interest is ?

(Round to three decimal places.)