Century 21 Bank has made a one-year loan to Joker, a firm that manufactures baseball bats. The estimated probability of default of this loan is 8%. The bank has also made a two-year loan to Joker that provides a return of 10.5% per annum if the loan is not defaulted. And the bank will lose all the claims on principal and interests upon loan default. The yield is 2% per annum for the 1- year maturity government bond. Based on the prices of 1-year and 2-year maturity government bond prices, the forward rate for the 2nd year is 4% per annum. What is the cumulative probability of repayment (i.e. not default) of Joker over the two years? (Please round your answer to at least 3 decimal places in decimal points, not percentage terms.)