A company's 5 -year bonds are yielding 10% per year. Treasury bonds with the same maturity are yielding 4.9% per year, and the reat risk-free rate ( r ) is 2.95%. The average inflation premium is 1.55%, and the maturity risk premium is estimated to be 0.1(t1)%, where t= number of years to maturity. If the liquidity premium is 0.5%, what is the default risk premlum on the corporate bonds? Round your answer to two decimal places. %