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Based on the formula derived in the slides on corporate securities, what is the appropriate credit spread for a corporate bond with a 6% probability

image text in transcribed Based on the formula derived in the slides on corporate securities, what is the appropriate credit spread for a corporate bond with a 6% probability of default and an 70% expected recovery rate. Assume the risk-free rate is 4%. (If your answer is 5.25%, enter 5.25 .)

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