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A company estimates that 0.6% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement

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A company estimates that 0.6% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $500. If they offer a 2-year extended warranty for $78, what is the company's expected value of each warranty sold? Round your answer to the nearest cent. {

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