Company B owns a lease granting it the right to explore for oil on a certain piece of property. They may sell the lease for $50,000 and let another company take the risk or they may drill hoping to find oil or gas. The three possible drilling outcomes are listed below, together with probabilities of occurrence and payoffs.

Possible outcome	Probability	Payoff
Dry well	0.2	-126768
Gas well	0.3	59075
Oil well	0.5	148729

What is the expected value of drilling option? (please keep two decimal places)