Suppose that a corporate bond has one year to maturity. The bond has a par value of $1,000 and its annual coupon rate is 8%. After evaluating the risk, an investor concludes that the bond has a 15 percent probability of default and payment under default is $500. The current price of the bond is $900. If the investor decides to buy the bond now, what is the expected payment from the bond? Select one: a.$1,080 b.$900 c.$1,000 d.$993