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Suppose the hazard rate is constant and equal to 0.090. In this case, each of the following is true except which is false?
A
The unconditional one-year default probability is 8.6%
B
The unconditional two-year default probability is 16.5%
C
The probability of joint event of survival through the first year and default in the second year is 7.9%
D
The conditional one-year default probability, given survival through the first year, is 17.3%
