1) The current price of a stock is $32, and the annual risk-free rate is 6%. A call option with a strike price of $29 and 1 year until expiration has a current value of $5.30. What is the value of a put option written on the stock with the same exercise price and expiration date as the call option? Round your answer to the nearest cent.

2) You have a $2 million portfolio consisting of a $100,000 investment in each of 20 different stocks. The portfolio has a beta of 1.05. You are considering selling $100,000 worth of one stock with a beta of 1.15 and using the proceeds to purchase another stock with a beta of 1.35. What will the portfolio's new beta be after these transactions? Round your answer to two decimal places.

3) A Treasury bond that matures in 10 years has a yield of 4%. A 10-year corporate bond has a yield of 9%. Assume that the liquidity premium on the corporate bond is 0.7%. What is the default risk premium on the corporate bond? Round your answer to two decimal places.