Bonds purchased for $9,000 have a face value of $10,000 and interest is 10% per annum, payable semiannually. The bonds will mature in 3 years and the issuing company is anticipating a liquidity problem in three years and has told holders that if they hold their bonds two years beyond the original maturity date, the interest on the bond for an additional two years years will be 16% per annum payable semi-annually. What annual nominal rate of return would holders achieve if they accept the proposal?