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 $200 million in a boom year and $78 million in a recession. The company's required debt payment at the end of the year is $120 million. The market value of the company's outstanding debt is $80 million. The company pays no taxes. What payoff do bondholders expect to receive in the event of a recession? What is the promised retum on the company's debt? What is the expected return on the company's debt? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac)