I need help with this question.

Residents of a small town have fond memories of ice skating at a local park. An artist has captured the experience in a drawing and is hoping to reproduce it and sell framed copies to current and former residents. He thinks that if the market is good he could sell 400 copies of the elegant version at $125 each. If the market is not good, he would only sell 200 at $90 each. He could make a deluxe version of the same drawing instead. He feels that if the market were good he could sell 500 copies of the deluxe version at $100 each. If the market is not good, he would only sell 400 copies at $70 each. In either case production costs would be approximately $35,000. He could also choose to do nothing at this time. Suppose recent market research indicates that there is a 0.45 probability of a good market, which mean that there is also a 0.55 probability of a bad market.

a) What option has the highest expected monetary value(EMV)? Show all work.

b) What should this artist do, and why?