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Calorimetric and shear modulus measurements on bulk glassy Pd₄₀Ni₄₀P₂₀ are performed. The obtained data is used for the calculation of structural relaxation-induced heat flow within the framework of the Interstitialcy theory. A good correspondence between the calculated and experimental heat release and absorption both below and above T-g is found. It is concluded that a description based on the population of "defect" states that are similar to dumbbell interstitials is capable to correctly describe the observed heat flow.