The real risk$-$free rate is $0\mathrm{.}25\%.$ Inflation is expected to average $1\mathrm{.}0\%$ a year for the next $2$ years, after which time inflation is expected to average $2\mathrm{.}00\%$ a year. Assume that there is no maturity risk premium. A $22-$year corporate bond has a yield of $22\mathrm{.}0\%,$ which includes a liquidity premium of $0\mathrm{.}50\%.$ What is its default risk premium?

Question $12$ options:

$19\mathrm{.}841\%$

$20\mathrm{.}250\%$

$19\mathrm{.}250\%$

$19\mathrm{.}341\%$