The event organizers have been clear, the $1500 booth purchase fee is non-refundable even if the convention is cancelled, so you have to help decide if it is worth the risk. After doing some research, you estimate about an 85% chance the event will take place. If the event takes place, you suspect a 70% chance that the new business Modus attracts could bring in $9,000 and a 30% it only brings in $500.

Calculate the Expected Value of buying the booth.