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18. An oil company offers a landowner $180,000 for the exploration rights to natural gas on her land. This option, if exercised, is worth an additional $1,800,000 to the landowner, but this will occur only if natural gas is discovered during the exploration phase. The landowner, believing that the oil company's interest in the site is a good indication that gas is present, is tempted to develop the field herself. To do so, she must contract with local experts in natural gas exploration and development. The initial cost of such a contract is $300,000, which is lost forever if no gas is found. If gas is discovered, however, the landowner expects to earn a net profit of $6,000,000. Finally, the landowner estimates the probability of finding gas on her land to be 60%. At a cost of $90,000 the landowner can request a soundings test be performed on the site where natural gas is believed to be present. The decision tree for this problem with probabilities and payoffs is given on the next page. What decision should the landowner make if she uses maximum expected monetary value criterion? SHOW YOUR WORK with reference to nodes