The real risk$-$free rate, r$*,$ is $1\mathrm{.}5\%.$ Inflation is expected to average $1\mathrm{.}3\%$ a year for the next $4$ years, after which time inflation is expected to average $4\mathrm{.}2\%$ a year. Assume that there is no maturity risk premium. A $9-$year corporate bond has a yield of $10\mathrm{.}4\%,$ which includes a liquidity premium of $0\mathrm{.}2\%.$ What is its default risk premium? Do not round intermediate calculations. Round your answer to two decimal places.