Assume that the owner of some financial asset of value is willing to sell it if s/he receives an offer b greater than . Assume that a buyer who is interested in acquiring this asset knows that its value is drawn from a Uniform distribution defined on [10,20]. If the buyer acquires the asset, then would be multiplied by 1.5.

a) What the asset's expected value for the buyer if s/he acquires it?

b)What is the buyer's best offer?