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There is a 30% probability that an office building will be sold after 5 years for $30 million, a 50% ...
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There is a 30% probability that an office building will be sold after 5 years for $30 million, a 50% ...
There is a 30% probability that an office building will be sold after 5 years for $30 million, a 50% probability that it will be sold for $20 million and a 20% probability that it will be sold for $10 million. What is the expected value of the office building in 5 years?
A) $20 million
B) $21 million
C) $30 million
D) $10 million
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Financial Management: Principles and Applications
Edition:
13
^{th}
Authors:
Titman, Keown, Martin
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B) $21 million
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