Answer:
Step-by-step explanation:
= (probability of entire face value paid*face value+probability of entire face value not paid*percent of face value paid*face value)/(1+discount rate)^years to maturity
probability of entire face value paid = 75%
face value = 1000
probability of entire face value not paid = 25%
percent of face value paid= 60%
discount rate = 15%
years to maturity = 3