What is the effective monthly interest rate when the nominal rate is $28\%$ compounded daily? Find the solution correct to four decimal places. Choose the closest answer.

Question $8$ options:

$2\mathrm{.}3593\%$

$2\mathrm{.}3595\%$

$2\mathrm{.}3597\%$

$2\mathrm{.}3599\%$

None of the above