Suppose your firm is seeking a seven-year, amortizing $840,000 loan with annual payments and your bank is offering you the choice between a $894,000 loan with a $54,000 compensating balance and a $840,000 loan without a compensating balance. The interest rate on the $840,000 loan is 8.0 percent. How low would the interest rate on the loan with the compensating balance have to be for you to choose it?