please ensure you use the EMV analysis & state what lift is best.

Snow Valley Ski Resort is planning the ski lift operation for its new ski resort. Management is trying to determine whether one or two lifts will be necessary; each lift can accommodate 500 people per day. Skiing normally occurs in the 14-week period from December to April, during which the lift will operate seven days per week. The first lift will operate at 90 percent capacity if economic conditions are bad, the probability of which is believed to be about a 0.3. During normal times the first lift will be utilized at 100 percent capacity, and the excess crowd will provide 50 percent utilization on the second lift. The probability of normal times is 0.5. Finally, if times are really good, the probability of which is 0.2, the utilization of the second lift will increase to 90 percent. The equivalent annual cost of installing a new lift is $100,000. The annual cost of installing two lifts is only $190,000 if both are purchased at the same time. If used at all, each lift costs $200,000 to operate, no matter how high or low its utilization rate. Lift tickets cost $50 per customer per day. Should the resort purchase one lift or two? Use the EMV analysis to decide