Question: Client has an account that is earning ( 7.5 % / ) year after tax. Client has a ( 38 % ) combined Federal and

Client has an account that is earning \$ 7.5 \\% / \$ year after tax. Client has a \$ 38 \\% \$ combined Federal and State effective tax rate. Assuming all earnings are taxed annually at the client's effective rate, what is the client's gross annual rate of return? (Note: Please type your answer only with numbers and decimal points, and round to the nearest hundredth of a percent - no commas, percent signf. , etc.)

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