Question 3 (1 point) A firm has assets with a current value of $50 million and a continuously compounded return volatility of 19%. The senior secured zero-coupon bonds of the firm have a face value of $24 million. The average CDS spread for these bonds is 1.10%, based on an expected recovery rate of 46%. The continuously compounded risk-free interest rate is 0.95%. What is the risk-neutral default intensity of these bonds? Note: Your answer must be expressed in percentage terms and accurate to within 0.01%. E.g., if you find a default intensity of 6.789%, then put 6.79 as your answer. Your Answer: Answer Question 3 (1 point) A firm has assets with a current value of $50 million and a continuously compounded return volatility of 19%. The senior secured zero-coupon bonds of the firm have a face value of $24 million. The average CDS spread for these bonds is 1.10%, based on an expected recovery rate of 46%. The continuously compounded risk-free interest rate is 0.95%. What is the risk-neutral default intensity of these bonds? Note: Your answer must be expressed in percentage terms and accurate to within 0.01%. E.g., if you find a default intensity of 6.789%, then put 6.79 as your answer. Your