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The Hasbro 4.625% September 2040 bond is priced to yield 19.535% while the Burger King 4.625% September 2040 bond is priced to yield 23.245%. If

The Hasbro 4.625% September 2040 bond is priced to yield 19.535% while the Burger King 4.625% September 2040 bond is priced to yield 23.245%. If the market assumes that there is a 7.730% probability that Hasbro will default on the bond then the market also assumes that the probability of default on the Burger King bond is %

and the expected yield in this market is %

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