A hedge fund operating under a distressed securities strategy is currently assessing the solvency risk of two potential investment targets. As of now, firm RST holds a credit rating of BB, while firm WYZ is rated B. The hedge fund intends to determine the probability that both firms will simultaneously default within the next 2 years, applying a Gaussian default time copula model. The analysis assumes a 1-year Gaussian default correlation of 0.36. The fund has provided a table containing the abscissa values X and xg from the bivariate normal distribution. Specifically, XBB is defined as N^-1(QBB(tgB)) and Xg is defined as N^-1(Qe(t)), where tgB and tg represent the time-to-default for BB-rated and B-rated companies, respectively; QBB and Q denote the cumulative distribution functions for tBB and tg, respectively; and N denotes the standard normal distribution, while M represents the joint bivariate cumulative standard normal distribution:

Firm RST	Firm WYZ	Firm RST	Firm WYZ
Cumulative Default Probability	Cumulative Default Probability	Standard Normal Percentiles	Standard Normal Percentiles
Year	Qe(t)	QBB(t)	N^-1(QBB(t))
1	5.21%	5.21%	-1.625
2	6.12%	11.33%	-1.209
3	5.50%	16.83%	-0.961
4	4.81%	21.64%	-0.784
5	4.22%	25.86%	-0.648

Using the Gaussian copula approach, which option correctly represents the joint probability that both firm RST and firm WYZ will default before the end of year 2?