2. Decision Tree JTM really liked your work on the option pricing of the gates, so they ask you to look at their 3- phase expansion at their home airport. The three phases are: A. Upon purchase of the new gates, start a marketing program to promote JTM's routes to the East Coast, West Coast, and the Caribbean. If all goes well and the market is receptive, they will go on to phase 2. B. Phase 2 has JTM invest in new routes to the destinations listed. If at any time, JTM finds that this is not going to work, they will pull the plug on everything. C.Phase 3 has JTM start the new routes to the destinations listed. If things don't go well on any of the three destinations, they will pull the plug on everything. After much work with other departments, you generate enough data to calculate the NPV of the 3-phase expansion. Before you have a chance to save all your work, there is a power spike and you lose part of your work. You have to complete it for a presentation. Please use the Excel template provided to complete this. JTM Airlines Airport Expansion Start Phase 1 Phase II PV of Revenues 350 Costs Net Expecte Probability Value Phase III Success 44% 44 East Coast 33% 22 Failure 56% 20 265 Success 66% 21 West Coast 25% 21 Failure 34% 14 Success 55% 22 390 Success 819 22 Caribbean 32% 20 Start 28 Failure 19% 8 Failure 10% 17 Failure 45% 15 Prob. 1 Prob. 2 V. AUG 2021