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The risk-free rate is 3.1 percent. Inflation is expected to average 3.6 percent for 6 years and 4.3 percent thereafter. A(n) 11-year corporate bond has

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The risk-free rate is 3.1 percent. Inflation is expected to average 3.6 percent for 6 years and 4.3 percent thereafter. A(n) 11-year corporate bond has a yield of 8.8, which includes a liquidity premium of 0.2 percent. Ignore the maturity risk premium What is the (annual) default risk premium in percent

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