In evaluating the risks associated with future economic and market conditions, there is a $60\%$ chance $($or $0\mathrm{.}60)$ of favorable market conditions in the future, and a $40\%$ chance $($or $0\mathrm{.}40)$ of only average market conditions. Market research has produced revenue estimates for two different projects under these two market conditions. Project A under favorable market conditions could earn our organization $$400,000...$ and only $$100,000$ under average market conditions. Project B under favorable market conditions could earn our organization $$500,000...$ but only $$50,000$ under average market conditions.

Use decision$-$tree and$/$or expected value calculations to determine if Project A or Project B is a better option. $1)$ Calculate a net present value for each of the two projects. $2)$ Which project should be selected, and why? Show all of your calculations and "work".