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Question 7 2.23 pts A regional chain department store will remain in business for one more year. The probability of a boom year is 60

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Question 7 2.23 pts A regional chain department store will remain in business for one more year. The probability of a boom year is 60 percent and the probability of a recession 40 percent. It is projected that the company will generate a total cash flow of $190 million in a boom year and $81 million in a recession. The company's required debt payment at the end of the year is $115 million. The market value of the company's outstanding debt is $88 million. The company pays no taxes. What payoff do bondholders expect to receive in the event of a recession? O $81 million 0 $88 million $115 million $146 million $190 million 2.23 pts

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