Question: In the following example an IT firm is considering whether an Infrastructure Renovation project should maintain the existing structure, renovate or build a new structure.

In the following example an IT firm is

In the following example an IT firm is considering whether an Infrastructure Renovation project should maintain the existing structure, renovate or build a new structure. The cost for each option is shown in parentheses; the maximum and minimum revenue is shown for each option. 90% Max Revenue $20 M Maintain I$3 M) Min Revenue SOM 10% 7096 Max Revenue $45 M DECISION Maintain? Renovate? Renovate ($12 M) Build? Min Revenue $25 M 30% 50% Max Revenud $60 M Build ($25 M) 50% Min Revenue! $30 M Calculate the EMV for each option. Based on this analysis, which option would you recommend

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