final answer please

1. Suppose a firm with a value of $60 million has a bond outstanding with a face value of $45 million that matures in 3 years, the current interest rate is 7% and the volatility of the firm is 35% what is the probability that the firm will default on its debt if the expected return on the firm, u, is 25%?* (8 Points) Enter your answer 2. What is the cumulative default probability for year 2 if the marginal probability of default is 10% and 6% for years 1 and 2, respectively ? * (2 Points) Enter your