Question: If you spend $ 8 0 , 0 0 0 to mitigate a risk, it will have a 4 0 % probability of having a

If you spend $80,000 to mitigate a risk, it will have a 40% probability of having a cost impact of $60,000(meaning that the "value" of this impact is minus $60,000) and a 60% probability of having a cost impact of $100,000. Assuming you plan to mitigate this risk, what is the Expected Monetary Value (EMV) of the risk? Show your calculations fully and clearly to get full credit.

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