Dakota Corporation $15-$year bonds have an equilibrium rate of refurn of $8$ percent. For all securities$,$ the inflation risk premium is $1\mathrm{.}50$ percent and the real risk$-$free rate is $2\mathrm{.}60$ percent. The security$\text{'}$s liquidity risk premium is $0\mathrm{.}60$ percent and maturity risk premium is $1\mathrm{.}20$ percent. The security has no special covenants. Calculate the bond's default risk premium. $($Round your answer to $2$ decimal places.$)$

Default risk premium

$\%$