Consider the following data in the table below. Assume that if the corporate bond defaulted, no payment is expected. Calculate the probability of default on the one-year corporate bond in the first year. Round your answer up to 4 decimal places in decimal term, i.e., enter 0.1234 instead of 12.34%. Spot 1-year Spot 2-year T-strip 11.5% 15% AAA corporate bond 13.8% 17.6%