Credit Suisse, a global investment bank that is based in Switzerland, had been involved in a series of scandals, before being further hit by the latest banking crisis in March $2023.$ At some point during that month, the $1-$year CDS written on the bank's bonds was trading at about $3200$ basis points. Using the simple model in Lecture $11,$ compute the hazard rate that is implied from this CDS spread, assuming a recovery rate of $50\%,$ a riskfree rate of $4\mathrm{.}8\%,$ the CDS payments are semi$-$annual. What is the $($risk$-$neutral$)$ probability of default within $1$ year based on your calculated hazard rate? You can use MATLAB functions that were covered in week $11.$

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