The yield on a one-year zero-coupon government bond is 2.5% while the yield on a 1 year zero-coupon bond issue by ABC plc is given by 3.75%. What is the implied probability of default on the 1-year bond issued by ABC plc? Select one: O a. Not enough information to answer the question. O b. 12.61% c. 98.8% O d. 6.25% O e. 1.2%