You are considering either leasing or purchasing a car. You notice an ad that says you can lease the car you want for $403.00 per month. The lease term is 60 months with the first payment due at inception of the lease. You must also make an additional down payment of $1,570. The ad also says that the residual value of the vehicle is $16,435. The list price of the vehicle is $28,449, but after much research, you have concluded that you could buy the car for a total "drive-out" price of $26,100. What is the quoted annual interest rate you are actually paying with the lease?