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A company has a zero coupon bond issue with a face value of $3,000,000 that matures in 1 year. Currently, the assets of the company

A company has a zero coupon bond issue with a face value of $3,000,000 that matures in 1 year. Currently, the assets of the company are valued at $4,100,000, but this amount is expected to either increase to $4,600,000 or decrease to $3,600,000 in a year's time. If the risk-free rate is 7%, what is the value of this company's equity?

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