At least one of your answers is incorrect. First compute the net revenue of each outcome. To determine the EMV of a decision, multiply the net revenue of each state of nature by that state of nature's probability of occurrence. The EMV is the sum of these values. MacDonald Products, Inc., of Clarkson, New York, has the option of (a) proceeding immediately with production of a new top-of-the-line stereo TV that has just completed prototype testing or (b) having the value analysis team complete a study. If Tyrone Martin, VP for operations, proceeds with the existing prototype (option a), the firm can expect sales to be 110,000 units at $620 each, with a probability of 0.35 and a 0.65 probability of 75,000 at $620. If, however, he uses the value analysis team (option b), the firm expects sales of 80,000 units at $710, with a probability of 0.71 and a 0.29 probability of 60,000 units at $710. Value engineering, at a cost of $90,000, is only used in option b. Which option has the highest expected monetary value (EMV)? The EMV for option a is $ and the EMV for option b is $ Therefore, option has the highest expected monetary value. (Enter your responses as integers.)