An investor buys an asset at an initial cost of $400,000. The investor believes that one year from now, the asset could have four possible values. These values are $225,000, $300,000, $400,000 and $1,000,000 with respective probabilities of 15%, 35%, 45% and 5%.

a) What is the expected outcome of the assets value?

b) What is the expected return on the asset?

c) What is the standard deviation on the assets value?