Mark borrows $8,000.$ He agrees to repay the loan with payments of $4400$ at the end of $3$ years and $5100$ at the end of $6$ years. Determine the annual effective interest rate on Mark's loan.

$($A$)11\mathrm{.}9467\%$

$($B$)35\mathrm{.}8401\%$

$($C$)3\mathrm{.}9822\%$

$($D$)3\mathrm{.}3833\%$

$($E$)0\mathrm{.}0191\%$