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0.7 Samara recently graduated from Architecture at McGill University. Her utility of income function is given by UMY)=(Y+1200) . She is considering opening up her own firm with a partner. The partner is good with business but does not have the technical expertise of Samara. As such, she does not have to put in any money, the partner just wants to benefit from her technical experience. In the coming year, it is estimated that there is a 0.2 probability that after one year you will have earned $16 000 and a 0.8 probability that you will have earned $64 000 as a result of your new partnership. a) Calculate the expected value (EV) and expected utility (EU) of this partnership. EV = EU = b) How much is Samara willing to pay to avoid the uncertainty of the outcome (avoidance cost - AC)? AC =