A company's 5 -year bends are ylelding 6% per year. Treasury bends with the same maturity are yielding 4.3% per year, and the real risk-free rate ( r ) is 2.75%. The average infation premium is 1.15\%, and the maturity risk premium is estimated to be 0.1(t1)%, where t= number of years to maturity. If the lievidity premium is 0.4%, what is the defeult risk premium on the corperate bonds? Round your answer to twe decimal places