A firm wishes to choose the location for a new factory. Prots obtained will depend on whether a new railroad spur is constructed to serve the town in which the new factory will be located. The following payoff table summarizes the relevant information: New Railroad No New Railroad Alternatives Spur Built Spur Location A $3* $16 Location B 4 12 Location C 6 8 [ *Prots in $ millions. Using the probabilities of .60 for a new railroad spur and .40 for no new railroad spur: (a) Compute the expected monetary value for each location. (Round your answers to 1 decimal place. Enter your answers in millions.) EMV (Lac A) EMV (Lac B) EMV (Lac C) (b) Find the location that should be selected using the expected monetary value criterion. Location A 0 Location B 0 Location C (c) Compute the EVPI, expected value of perfect information. (Round your answers to 1 decimal place. Enter your answers in millions.) EVcertainty