1. (15 points) You have an opportunity to invest and are considering high-risk stocks, low-risk stocks, and a savings account. You may only invest in one type of instrument. There is no cost to put funds into a savings account, but there is a one-time brokerage fee of $200,000 if stocks are purchased. Annual Anticipated Investment Outcomes Stock Market Change Up Same High-risk stocks $1,700,000 $300,000 Low-risk stocks $1,200,000 $400,000 Probability of market change 50% 30% Savings Account $500,000 $500,000 Down $800,000 $100,000 20% $500,000 (a) Construct the decision tree for this investment (b) Determine the most optimal investment to market based on the expected value of the return. (c) If before making your decision, you knew exactly which of the three routes the market would take, what would the expected value of this information be worth