Suppose that the current exchange rate is 1.07 = 1, but it is expected to be 1.01 = 1 in one year. If the current interest rate on a one-year government bond in the United Kingdom is 7%, what does the interest-rate parity condition indicate the interest rate will be on a one-year government bond in Germany? Assume that there are no differences in risk, liquidity, taxation, or information costs between the bonds. The German interest rate will be %. (Round your response to two decimal places.)