• Bond X: A zero coupon bond with a face value of $1,000 and exactly 8 years remaining that is selling for $560
• Bond Y: A 6% coupon bond with a face value of $1,000 selling for $650 with coupon payments made every 6 months. The last coupon payment was made yesterday, and the bond matures in 4 years, 6 months

Now assume that you are back at time 0 and have purchased Bond Y. What is your return if Company Y goes bankrupt in year 3 and you receive $300 as part of the bankruptcy liquidation instead of $1,000? (Assume Company Y makes all of the coupon payments and that the $300 payment occurs at the same time as the second year 3 coupon payment.)

*Please show your calculations in excel with the timeline