A company's 6-year bonds are yielding 8.25% per year. Treasury bonds with the same maturity are yielding 5.25% per year, and the real risk-free rate is 2.0%. The average inflation premium is 3.00%; and the maturity risk premium is estimated to be [0.05x(t-1)]%, where t = number of years to maturity. If the liquidity premium is 0.60%, what is the default risk premium on the corporate bonds? 3.00% 5.00% 2.40% 8.00%