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7)5.1.4(Basis for this problem) An LG Dishwasher, which costs $1000, has a 25% chance of needing to be replaced in the first 2 years of

7)5.1.4(Basis for this problem)

An LG Dishwasher, which costs $1000, has a 25% chance of needing to be replaced in the first 2 years of purchase.A two-year extended warranty costs $120.00 on a dishwasher.What is the expected value of the extended warranty assuming it is replaced in the first 2 years?

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