See attached document, I really need help understanding

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5. Transrail is bidding on a project that it figures will cost $400,000 to perform. Using a 25% markup, it will charge $500,000, netting a profit of $100,000. However, it has been learned that another company, Rail Freight, is also considering bidding on the project. If Rail Freight does submit a bid, it figures to be a bid about $470,000. Transrail really wants this project and is considering a bid with only a 15% markup to $460,000 to ensure winning regardless of whether or not Rail Freight submits a bid. a. Prepare a profit payoff table from Transrail's point of view. (6 points) b. If Rail Freight is known to submit bids on only 20% of the projects it considers, what decision should Transrail make? Provide EMV for each decision alternative. (6 points) c. Given the information in (c), what is the EVPI? (6 points)