The Wall Street Journal reports that the current rate on 10-year Treasury bonds is 7.35 percent, on 20-year Treasury bonds is 7.95 percent, and on a 20-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 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 answer to 2 decimal places.) Current rate %