(Default-risk premium) At present, 20-year Treasury bonds are yielding 5.7% while some 20-year corporate bonds that you are interested in are yielding 9.1%. Assuming that the maturity-risk premium on both bonds is the same and that the liquidity-risk premium on the corporate bonds is 0.25% while it is 0.0% on the Treasury bonds, what is the default-risk premium on the corporate bonds? Note that a Treasuty security should have no default-risk premium.

The default-risk premium on the corporate bonds is _%. (Round to two decimal places.)