1.4 You have a base salary of $80,000 per year, with a bonus based on your company’s profit.

You earn no bonus if the company’s profit is below $500,000, a bonus of $10,000 if the profit is between $1.0 million and $5.0 million, or a bonus of $25,000 if the profit exceeds $5.0 million. You believe the probability of a profit below $1.0 million is 0.10, the probability of a profit between $1.0 million and $5.0 million is 0.50, and the probability of a profit exceeding $5.0 million is 0.40. What is your expected income?