. Nadia is planning for her retirement, and she has to decide whether to invest a large amount in junk bonds, municipal bonds or Treasury bonds.The junk bonds have a 25% chance of default, which means they will be worth noting, but if they don't default Nadia will have $100,000.The municipal bonds have a 3% chance of default, but they don't default Nadia will have $90,000.The Treasury bonds can't default and Nadia will have $80,000 if she buys them.Find the expected value for all three options.