he payoff table given below lists four mortgage options:

Decision Rates Rise Rates Stable Rates Fall

$1-$Year ARM $$66,645$ $$43,650$ $$38,560$

$3-$Year ARM $$62,857$ $$47,698$ $$42,726$

$5-$Year ARM $$55,895$ $$50,894$ $$48,134$

$30$ Year Fixed $$52,276$ $$52,276$ $$52,276$

Probability $0\mathrm{.}60\mathrm{.}30\mathrm{.}1$

What is the best decision alternative using the Expected Value $($EV$)$ Approach?