Hugh has the choice between investing in a City of Heflin bond at 4.35 percent or investing in a Sure thing Inc. bond at 6.65 percent. Assuming that both bonds have the same nontax characteristics and that Hugh has a 40 percent marginal tax rate, what interest rate does Sure thing Inc. need to offer to make Hugh indifferent between investing in the two bonds? (Round your answer to 2 decimal places.)

Interest rate ________ %