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Suppose that the hazard rate for a company that issues a bond is constant at 5% per year.The probability of default by the end of

Suppose that the hazard rate for a company that issues a bond is constant at 5% per year.The probability of default by the end of the third year is.

Select one:

a. 13.929%

b.15.527%

c.5.391%

d.13.375%

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