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Question 3 4 pts 5-year corporate bonds yield 7.6% and 5-year T-bonds yield 4.4%. The liquidity premium for the corporate bonds is LP = 0.19%

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Question 3 4 pts 5-year corporate bonds yield 7.6% and 5-year T-bonds yield 4.4%. The liquidity premium for the corporate bonds is LP = 0.19% versus zero for T-bonds, and the maturity risk premium for all bonds is the same. What is the default risk premium (DRP) on 5-year corporate bonds? (Express your answer as a percent and round your answer to two decimal places.)

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