Your credit risk manager at Monash Bank has provided you with the following information about market yield curves. The 1 year risk free Treasury Bonds is 0.5% and the 2 year risk free Treasury Bonds is 2.9%. The 1 year Corporate "BBB" Bonds is 4.8% and the 2 year Corporate "BBB" Bonds is 6.1%. Using your understanding of the term structure derivation of credit risk calculate the probability of default of a one year "BBB" Corporate Bond in percent? Note: Do not write any % symbol in your answer. For example: if your answer is 55% probability, then simply write 55 NOT as 0.55 or 55% Answer: Your credit risk manager at Monash Bank has provided you with the following information about market yield curves. The 1 year risk free Treasury Bonds is 0.5% and the 2 year risk free Treasury Bonds is 2.9%. The 1 year Corporate "BBB" Bonds is 4.8% and the 2 year Corporate "BBB" Bonds is 6.1%. Using your understanding of the term structure derivation of credit risk calculate the probability of default of a one year "BBB" Corporate Bond in percent? Note: Do not write any % symbol in your answer. For example: if your answer is 55% probability, then simply write 55 NOT as 0.55 or 55%