You assume the following information regarding the risk free interest rates and a debt-issuing (with a face value of $1,000) corporate respective interest rates:

Years 1 2 3 4 5

Risk Free Interest Rate 4% 4% 4% 4% 4%

Corporate Interest Rate 4.5% 5% 5.5% 6% 6.5%

What is the approximate hazard rate in year 4?