c. A bond investor is considering an investment. The investor believes that there is a 10% chance that the bond will completely default and be worth zero. There is a 90% chance that the bond will return its full par value of $100. Given this risk, the investor requires an 8% expected rate of return. How much will the bond investor be willing to pay for the bond today? d. Explain what would happen to the bond price if the investor required a greater or lower expected rate of return