Kern Corporation's 5-year bonds yield is 6.90%.The real risk-free rate is r* = 2.5%, the default risk premium for Kern's bonds is DRP = 1.90%, the liquidity premium on Kern's bonds is LP = 1.3%, and the maturity risk premium is 0.4%. What is the inflation premium (IP)?

Group of answer choices

0.98%

0.66%

0.76%

0.75%

0.80%