An investor is considering 4 investments, A, B, C and leaving his money in the bank. The payoff from each investment is a function of the economic climate over the next 2 years. The economy can expand or decline. The following payoff matrix has been developed for the decision problem. The investor has estimated the probability of a declining economy at 70% and an expanding economy at 30%. B D Payoff Matrix 2 3 Economy 4 Investment Decline Expand EMV 5 A - 10 90 6 B 20 50 7 40 45 20 8 Bank 15 9 10 Probability 0.7 0.3 Payoffs 6 B 20 50 7 40 45 8 Bank 15 20 9 10 Probability 0.7 0.3 Payoffs What is the expected monetary value of Investment A? O a. 34 O b. 30 O c. 20 O d. 15 O e. None of the above