Ang Electronics, Inc., has developed a new mesh network. If successful,

the present value of the payoff $($when the product is brought to market$)$ is $$29$ million. If

the mesh network fails, the present value of the payoff is $$9\mathrm{.}2$ million. If the product goes

directly to market, there is a $50$ percent chance of success. Alternatively, the company can

delay the launch by one year and spend $$2\mathrm{.}1$ million to test market the mesh network. Test

marketing would allow the firm to improve the product and increase the probability of

success to $80$ percent. The appropriate discount rate is $11$ percent. Should the firm

conduct test marketing?