QUESTION 24 A corporation is planning to sell its 90-day commercial paper to investors offering a 11.4 percent yield. If the liquidity premium is estimated to be 0.4 percent, and there is a 0.4 percent tax adjustment. Also, the three-month real annualized rate is 3 percent and expected inflation is 0.7 percent. What le the appropriate detault premium? (Hint: use the Fisher formula to find the risk-free benchmark.) For example, if you find that the default premium is 3.5%, type "3.5" in the box