Complete the decision tree table by calculating the net present values (NPVs) and joint probabilities, as well as products of joint probabilities and NPVs for each decision branch. Assume that the weighted average cost of capital (WACC) is 8% for all decision branches. Hint: Use either a spreadsheet programs functions or a financial calculator for this task. Round the NPVs to the nearest dollar and remember to enter the minus sign if a value is negative.

Note: All cash amounts in the following table are in thousands of dollars.

Step 0	Step 1		Step 2		Step 3	Step 4	Step 5
1st Invest	Prob	2nd Invest	Prob	3rd Invest	Inflow	Inflow	Inflow	NPV ($)	Joint Prob (%)	NPV x Joint Prob ($)
			(2) 50%	$10,269	(3) $4,761	$8,237	$20,065
	75%	$300	(2) 20%	$10,000	(3) $1,900	$2,345	$7,800
(1) $80			(2) 30%	Stop	(3) $0	$0	$0
	25%	Stop		$0	$0	$0	$0