(c) Mr. M is a delta person who considers the following deal (or game): .80 $800 .20 -$500 Mr. M is given a choice between: 1. Playing the above game. for free. one time only. 11. Playing the above game fotn' independent times. but paying $240.00 up front to do so. (The 8240.00 fee is a one-time charge which allows Mr. M to play all foin' times: he does not need to pay $240.00 before each play of the game.) Suppose Mr. M says he is indifferent between Option I and Option 11. (i) Determine Mr. M's certain equivalent for the above deal