(Calculating the default-risk premium) At present, 10-year Treasury bonds are yielding 4.5% while a 10-year corporate bond is yielding 6.3%. If the liquidity-risk premium on the corporate bond is 0.5% what is the corporate bond's default-risk premium? Note that a Treasury security should have no default-risk premium and liquidity-risk premium.

The corporate bond's default-risk premium is __%. (Round to one decimal place)