Question: FINANCE practice question Please answer step-by-step The difference between the yield of a 4-year risk-free bond and the yield of a similar risky bond is

FINANCE practice question Please answer step-by-step The difference between the yield of a 4-year risk-free bond and the yield of a similar risky bond is 50 basis points. The loss given default is 65%. What is the cumulative probability of default over the four year period

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