11 Keys Corporation's 5-year bonds yield 4.80% and 5-year T-bonds yield 3.80%. The real risk-free rate is r* = 1.50%, the inflation premium for 5-year bonds is IP = 1.90%, the liquidity premium for Keys' bonds is LP = 0.50% versus zero for T-bonds, and the maturity risk premium for all bonds is found with the formula MRP = (t - 1) 0.1%, where t = number of years to maturity. What is the default risk premium (DRP) on Keys' bonds?

a. 1.10% b. 1.00% c. 0.60% d. 0.50% e. 1.50%