A Treasury bond that matures in $10$ years has a yield of $5\mathrm{.}50\%.$ A $10-$year corporate bond has a yield of $8\mathrm{.}50\%.$ Assume that the liquidity premium on the corporate bond is $0\mathrm{.}25\%.$ What is the default risk premium on the corporate bond? Round your answer to two decimal places.

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