When Sheridan Corp. issued its $60-$day commercial paper, the promised yield was $11\mathrm{.}1$ percent, whereas the $60-$day $T-$bill yield was $5\mathrm{.}5$ percent. There is a $1-$percent chance that Sheridan will default on this debt. If investors were willing to pay the full par$-$value amount $($$$1,000)$ to purchase the paper, how much do they expect to recover in the event of a default? $($Round intermediate calculations to $4$ decimal places, e$.$g$.0\mathrm{.}4235$ and final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}75.)$

Expected recovery

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