The real risk-free rate, r, is 1.4\%. Inflation is expected to average 1.1% a year for the next 4 years, after which time inflation is expected to average 3.9% a year. Assume that there is no maturity risk premium. A 10 -year corporate bond has a yield of 9.2%, which includes a liquidity premium of 0.7%. What is its default risk premium? Do not round intermediate calculations. Round your answer to two decimal places