a. Draw and label the decision tree that describes the decision facing Mark Smith. Be sure to include the do-nothing-alternative as an option. (10) b. Suppose that Smith has concluded that a "worsening economy" will not occur. Given that assumption, when would it be appropriate for him to choose the countercyclic investment strategy? (10) [try not to read too deeply into this question] c. Suppose that Smith is an EMV decision maker. Suppose he has estimated the probabilities of the potential outcomes as so: P(Strong Economy)=.1, P(Improving Economy)=.3, P(Stable Economy)= .4, P(Worsening Economy)=.2 . Determine the optimal alternative. (20) d. Develop a reasonable (non-pathological) risk averse preference curve for monetary amounts between - $ 30 million and $ 45 million. Determine the preferred strategy for the decision maker that you've modeled with your curve, assuming the probabilities cited in part (c). (15)