The Wall Street Joumal reports that the current rate on 10 -yeat Treasury bonds is 7.40 percent, on 20 -year Treasury bonds is 8.00 percent, and on a 20-year corporate bond issued by MHM Corp. is 9.05 percent. Assume that the maturity risk premium is zero. If the default risk premium and liquidity risk premlum. on a. 10 -year corporate bond issued by MHM Corp. are the same as those on the 20 year corporate bond, calculate the current rate on MHM Corp's 10-year corporate bond. (Round your answor to 2 decimol places.)