A zero-coupon bond promises to pay $1000 in three years. However, there is a 20% probability that the bond issuer defaults and investors are only able to get $870. There is a further 10% probability that the bond issuer defaults and investors get nothing ($0). To clarify, there is a 70% probability that the bond pays off the full $1000 and a 30% total probability that the bond defaults and the investors get less than $1000. Assume that investors are risk neutral and that time-equivalent treasuries offer an interest rate of 6% per year. The bond is zero-coupon, so makes no intermediate payments. What is the expected payoff (in dollars) of the bond in three years?