Petroleos, S. A. The companyPetroleosowned a plot of land where it believed theremight begas. The investmentneeded to find out was $2 million, which could be lost entirely if ultimately no gas were found. However, if it were to be found, the estimatedprofits would be $3 million. The technicianscalculatedthat the likelihood that gas would be found was 0.6. Petroleos could begin drilling directly, or it could first do an ultrasound test. This test, which was not perfect, was defined by the following : a) If therewas gas, it indicatesthat therewasn't 30% of the time. b) If therewasn't gas, it indicatesthat there was 10% of the time. What is the expected value of the business with and without the test? What is the maximum value you would be willing to pay for it