The Extron Oil Company is considering making a bid for a shale oil development contract to be awarded by the federal government. The company has decided to bid $110 million. The company estimates that it has a 60% chance of winning the contract with this bid. If the firm wins the contract, it can choose one of three methods for getting the oil from the shale: It can develop a new method for oil extraction, use an existing (inefficient) process, or subcontract the processing out to a number or companies once the shale has been excavated. The results from these alternatives are given as follows. The cost of preparing the contract proposal is $2.000,000. If the company does not make a bid, it will invest in an alternative venture with a guaranteed profit of $30 million. Construct a sequential decision tree for this decision situation and determine whether the company should make a bid. The New England Bombers professional basketball team just missed making the playoffs last season and believes it only needs to sign one very good free agent to make the playoffs next season. The team