Please answer question #3! Thank you!

There is a $100M property (Property A ) that will be worth either $117M with a probability of 0.4 or $93M with a probability of 0.6 in one year. In this exercise, you will analyze the return to a non-recourse collateralized loan and the levered equity. 1. What is the expected rate of return to Property A ? \% (Hint: The amount of investment is $100M.) Expected return = (Total expected value / current value )1=(102.6/100)1=2.6% Debt 2. What is the present value (for the lender) of a $25M, one-year, zerocoupon, riskless loan? The riskless rate of return is 1%. $M( Hint: The borrower promises to pay $95M at t=1 and no other payment.) 3. What is the lender's payoff in each state of nature at t=1 for a $95M, one-year, zerocoupon, risky, non-recourse loan (Loan B) that is collateralized by Property A? (Hint: The borrower promises to pay $95M dollars at t=1, but may strategically default on the loan.) if the property value is 117 ; if the property value is 93