Assignment 3 Question 11 (of 16) 11. 625 points value P17-8. Financial Distress Good Time Company is a regional chain department store. It will remain in business for one more year. The probability of a boom year is 60 percent, and the probability of a recession is 40 percent. It is projected that the company will generate a total cash flow of $218 million in a boom year and $93 million in a recession. The company's required debt payment at the end of the year is $128 million. The market value of the company's outstanding debt is $102 million. The company pays no taxes. a. What payoff do bondholders expect to receive in the event of a recession? (Do not round intermediate calculations. Enter the final answer in dollars.) Expected payoff b. What is the promised return on the company's debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Promised return c. What is the expected return on the company's debt? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Expected return