A construction company is planning to build a new commercial building. The estimated cost of construction is $5 million. However, there is a 20% chance that unexpected events such as labor strikes or natural disasters may increase the cost of construction by $2 million. The company can purchase insurance to cover the additional cost for a premium of $100,000. If the company chooses not to purchase insurance, it will have to pay the additional cost out of its own funds. What is the expected cost of construction with insurance, and should the company purchase the insurance?