Ryotel is conducting market research to determine whether or not to launch a new product. Management believes there is a 60% probability the research will yield favorable results with a 40% probability the results will be unfavorable. If the results are favorable, there is a 70% probability the product will be successful; if the results are unfavorable, the probability the product will be unsuccessful is 75%. If the product is successful, Ryotel anticipates annual profits of $10,000,000, but if the product is unsuccessful, Ryotel will lose $4,000,000 each year. The expected value of the new product’s annual profit is a. $3,000,000. b. $3,280,000. c. $4,000,000. d. $5,300,000.