Suppose your firm is seeking en eight-year, moytizing $860.000 losn with annual payments, and your bank is offering you the choice between a loan of $916,000 with a compensating balance of $56,000 and a loan of $860,000 without a cortipensating balance. The interest rate on the $860.000 loan is' 8.5 perfent. How fow would the interest rate op the loan with the compensating palapce have to be for you to choose it? (Do not round intermediate calculations. Round youn final answer to 2 decimal ploces)