The following is the cumulative average default rates collected by Moody's. What is the probability that a bond initially rated a details during the third 4 Time Oyears) Ana A Baa Ba 1 0.000 0.022 0.062 0 174 1 110 3.004 15.894 2 0013 0.068 0 199 0.504 3071 9.274 27.003 3 0.013 0.136 0.434 0.906 5.371 14.723 35.800 0.037 0260 0.679 1.373 7.839 19 509 42.796 5 0.104 0.410 0.958 1862 10.065 23.869 48 828 7 0.241 0.682 1.615 2872 13911 31774 56.878 10 0.489 1017 2.759 4623 19 323 40 560 66.212 Gaa 53715 0 23001 9.552% 1.96196