The GOFERBROKE COMPANY owns a tract of land that may contain oil. A consulting geologist has reported to management that she believes there is one chance in FIVE of oil. Because of this prospect, another oil company has offered to purchase the land for $120,000. However, Goferbroke is considering holding the land in order to drill for oil itself. The cost of drilling is $90,000. If oil is found, the resulting expected revenue will be $690,000, so the companys expected profit (after deducting the cost of drilling) will be $600,000. A loss of $90,000 (the drilling cost) will be incurred if the land is dry (no oil).

Using the "Maximin payoff criterion", what is the company's profit? (enter a negative profit if your answer reflects a loss)