The Stacey Mack Corporation used the expected cash flow approach to determine the present value of a future obligation to be paid in four years. Estimated future payment possibilities were as follows:

Possible payment $50 million, 70 million, 90 million

Probability 20%40% 40% The risk-free interest rate is 5%.

What is the estimated present value of the future obligation?

$57.589 million. $60.880 million. $74.043 million. $70 million.