Suppose the interest rate on 1 year treasury strips is 3.45% and the interest rate on 2 year treasury strips is 4.10%. The interest rate on 1 year zero coupon corporate bonds is 6.95%, and the interest rate on 2 year zero coupon corporate bonds is 11.45%. Calculate the probability of default in year 2 (enter your answer as a decimal rounded to 4 decimal places)