A Treasury bond that matures in 10 years has a yield of 5.75%. A 10-year corporate bond has a yield of 7.75%. Assume that the liquidity premium on the corporate bond is 0.25%. What is the default risk premium on the corporate bond? Round your answer to two decimal places. % The real risk-free rate is 3.5%. Inflation is expected to be 2.5% this year, 4.05% next year, and 3.2% thereafter. The maturity risk premium is estimated to be 0.05 x (t - 1)%, where t = number of years to maturity. What is the yield on a 7-year Treasury note? Do not round intermediate calculations. Round your answer to two decimal places. %