Essential Flavours, a manufacturer of food flavours, owns a piece of land. The company is in the process of deciding whether to sell the land or to build a commercial bread bakery on the land. The company will not be able to sell the land if it builds the bakery. If the company goes ahead with the bakery, the company also will have to decide the volume of output it produces. Its options are low volume, medium volume or high volume. The company has the following information: Another company has offered to pay $3.2 million for the land. The total cost to build the bakery is $1.6 million. The table below shows the revenue and labour and materials costs for each volume level. These amounts are for the entire life of the bakery. Volume level Sales revenue Labour and materials cost Low $3 million $0.8 million Medium $6.3 million $1.2 million High $6.8 million $1.9 million What is the minimum price at which it makes commercial sense for the company to sell the land, rather than build the bakery? Hint: create a decision tree