7. Consider a portfolio of $150 million with three bonds, bond A ($50 million) with default probability 5%, bond B (540 million) with default probability 10% and bond C($60 million) with default probability 20%. Assume that the exposures are constant, the recovery in case of default is zero and default events are independent across the three issuers. Based on these information answer question. The probability and the variance of no default within this portfolio are: (final answer) (3 Points)