You are considering either leasing or purchasing a car. You notice an ad that says you can lease the car you want for $507.00 per month. The lease term is 24 months with the first payment due at inception of the lease. You must also make an additional down payment of $1,500. The ad also says that the residual value of the vehicle is $22,152. The list price of the vehicle is $32,591, but after much research, you have concluded that you could buy the car for a total "drive-out" price of $29,900. What is the quoted annual interest rate you are actually paying with the lease?