A project will have one of the following time $1$ payoffs, each with the corresponding probability.

$$23$ with probability $9\%.$

$$314$ with probability $49\%.$

$$517$ otherwise.

The discount rate is $12\mathrm{.}3\%.$ The project is partially financed with debt with a time $1$ promised payoff of $$163.$ What is the default premium on the debt? Give your answer in percentage to the nearest $0\mathrm{.}1$ percent.ired return benchmark