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A company estimates that it has a 25% chance of being successful in bidding on a $62 comma 000 contract. If it costs $3 comma

A company estimates that it has a 25% chance of being successful in bidding on a $62 comma 000 contract. If it costs $3 comma 500 in consultant fees to prepare the bid, what is the expected gain or loss for the company if it decides to bid on this contract

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