Bonds purchased for $9,000 have a face value of $10,000 and interest is 10% per year, payable semiannually. The bonds will mature in 3 years and the issuing company is anticipating liquidity problems 3 years from now and has told holders that if they hold their bonds 2 years beyond the original maturity date, the interest on the bond for the additional period of 2 years will be 16% per annum, payable semi-annually. What annual nominal rate of return would holders achieve if they accept the proposal?