A company's $6-$year bonds are yielding $8\mathrm{.}85\%$ per year. Treasury bonds with the same maturity are yielding $4\mathrm{.}01\%$ per year, and the real risk$-$free rate $(r^{**})$ is $2\mathrm{.}05\%.$ The average inflation premium and the maturity risk premium are the same for all maturities irrespective of the issuer. If the liquidity premium is $0\mathrm{.}47\%,$ what is the default risk premium on the corporate bonds? State your answer as a percentage to two decimal places. Do not include the $\%$ symbol.