If 10-year T-bonds have a yield of 6.2%, 10-year corporate bonds yield 11%, the maturity risk premium on all 10-year bonds is 1.3%, and corporate bonds have a 0.4% liquidity premium versus a zero liquidity premium for T-bonds, what is the default risk premium on the corporate bond?

Select the correct answer. a. 4.40% b. 4.18% c. 5.06% d. 4.62% e. 4.84%