What are the steps to finding -76 as a FV?

X : 0 View an Example 55 Question Help Gmmmon ICorporation has issued zerocoupon corporate bonds with a veyear maturity (assume $100 face value bond}. Investors believe there is a 40% chance that lGnimm on will default on these bonds. Ii lGrummon does default, investors expect to receive only 40 cents per dollar they are owed. If investors require a 6% expected retum on their investment in these bonds. what will be the price and yield to maturity on these bonds\"?l Note: Assume annual compounding. x J! where F' is the price of the bond, Fla\" is the face value, at is the probability of default. r is the amount investors expect to receive in case of default, y is the expected return, and n is the number of periods. P_ max\" u.4n}+0.4i1>