The ROV Contractors Inc. has been asked to submit a proposal for developing a new product, the chances are 50-50 that the bid will be accepted. It is not certain that the product can actually be developed, but there are 3 methods of development, of which only one should be chosen. Method A will cost P100, 000 and has 80% chance of success. Method B will cost P30, 000 with 60% probability of success. Method C will cost P20, 000 and the probability of success is 45%. IF the company receives the contract and develops the product, it will receive P5 million. No penalty is charged for failing to produce the product. What is the expected value in preparing a bid?