A lender offers a 9-year loan that is to be repaid with a single payment of principal and interest in 9 years. The percentage of borrowers that will default on this loan is 6.8%. When the loan becomes due in 9 years, the lender will recover 35% of the amount owed for each loan that defaults. The lender wants to realize an annual rate of 6% compounded continuously to compensate it for deferred consumption. The continuously compounded credit spread, expressed as an annual rate that is continuously compounded, that the lender needs to charge is s. Calculate 10,000s