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A company's 8-year bonds are yielding 8.30% per year. Treasury bonds with the same maturity are ylelding 5.47% per year, and the real risk-free rate

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A company's 8-year bonds are yielding 8.30% per year. Treasury bonds with the same maturity are ylelding 5.47% per year, and the real risk-free rate is 2.05%. The average inflation premium and the maturity risk premium are the same for all maturities irrespective of the issuer. If the liquidity premium is 0.62%, 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

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