Portage Pharmaceuticals is trying to determine how to proceed with a new cold remedy that is under development. They are looking at two options$$continue development of the product or sell rights to the product to another firm. The potential return on the cold remedy depends on whether it receives FDA approval. The payoff table, which provides the NPV for each outcome, in millions, for this problem is given below:

FDA Approves

FDA Rejects

Develop Cold Remedy

$100$

$0$

Sell rights

$20$

$20$

Decatur Decisions, Inc. has been hired in the past by Portage Pharmaceuticals to provide an independent analysis of the potential of FDA approval. Decatur Decisions has a pretty good track record in predicting the outcome of the FDA process as evidenced by the data in the table below, which summarizes Decatur Decisions accuracy in the past:

FDA Approves

FDA Rejects

PP Predicts Success

$16$

$3$

PP Predicts Failure

$3$

$9$

Portage Pharmaceuticals predicts that there is a $10$ percent chance of achieving FDA Approval. What is the Expected Value of Sample Information for Decatur Decisions? Enter your answer in dollars, e$.$g$.2000000$ is $2$ million dollars.

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