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Consider the following yield curve 11 = 4% k_1 = 7% _2 = 4% k_2 = 8% Calculate the marginal probability of default for the

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Consider the following yield curve 11 = 4% k_1 = 7% _2 = 4% k_2 = 8% Calculate the marginal probability of default for the first year. (Round your answer to 3 decimal places. Do not express your answer in percentage term, e.g. if you answer is 5.1%, key in 0.051.)

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