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Consider a corporate bond with 1-year, 4% annual coupon payment, is priced at parvalue (=$100). Assume that defauit can occur only at year-end immediately before

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Consider a corporate bond with 1-year, 4% annual coupon payment, is priced at parvalue (=$100). Assume that defauit can occur only at year-end immediately before coupon payment, and the recovery rate is 40%. Also, assume that 1-year risk-free rate is 1.34%. What's the risk-neutral probability of default implied by the price of the corporate bond? (Round to 4 decimat places)

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