a company's 5-year bonds are yielding 7% per year. Treasury bonds with the same maturity are yielding 4.4% per year, and the real risk-free rate (r*) is 2.25%. The average inflation premium is 1.75%, and the maturity risk premium is estimated to be 0.1 * (t - 1)%, where T = number of years to maturity. If the liquidity premium is 0.8%, what is the default risk premium on the corporate bonds? round your answer to two decimal places