Maple Leaf Inc. has had profits in the past, but unfortunately, sales are down, and lenders consider the firm risky. You are asked to estimate the interest rate the company should expect to pay on a one-year loan. She's told you to assume a 3.2% default risk premium and the liquidity and maturity risk premiums are each 12%. Inflation's expected to be 4.2% over the next 12 months. The pure interest rate is currently about 3%%. Round your answer to one decimal place. Include the % sign