The Wall Street Journal reports that the current rate on 5-year Treasury bonds is 6.65 percent, the rate on 12-year Treasury bonds is 7.05 percent, and the rate on a 12-year corporate bond issued by MHM Corp. is 8.95 percent. Assume that the maturity risk premium is zero. If the default risk premium and liquidity risk premium on a 5-year corporate bond issued by MHM Corp. are the same as those on the 12-year corporate bond, calculate the current rate