Suppose 10-year U.S. Treasury bonds have a yield of 3.15% and 10 year corporate bonds yield 4.65%. Also, corporate bonds have a 0.20% liquidity premium versus a zero liquidity premium for Treasury bonds, and the maturity risk premium on both Treasury and corporate 10-year bonds is 0.65%. What is the default risk premium on corporate bonds?

Answer choices:

A. 1.50%

B.0.65%

C.1.30%

D.1.15%