The Wall Street Journal reports that the current rate on 8-year Treasury bonds is 6.05 percent, the rate on 15-year Treasury bonds is 6.45 percent, and the rate on a 15-year corporate bond issued by MHM Corp. is 7.75 percent. Assume that the maturity risk premium is zero. If the default risk premium and liquidity risk premium on an 8-year corporate bond issued by MHM Corp. are the same as those on the 15-year corporate bond, calculate the current rate on MHM Corp.s 8-year corporate bond. (Round your answer to 2 decimal places.)