Homework: Chapter 13 Homework O Question 1 > Score: 0 of 1 point Save (Related to Checkpoint 13.1) (Calculating expected revenues) The owner of the Petreno Pharmaceutical Company is evaluating the expected annual sales for a new line of facial care products and estimates that there is a 70 percent chance that the product line will be extremely successful, in which case it will generate sales next year of 7.6 million. However, since the new product line has a unique appeal that will require substantial advertising by its manufacturer to gain consumer acceptance, there is a 30 percent chance that revenues for next year will be a modest 1.2 million. What is the expected level of revenues for the new product line? The expected total revenue for the new line of products is $ million. (Round to two decimal places.)