You own a high-end salon that is shut down due to the COVID-19 lockdown. You believe salons will reopen in either mid-May, early July or late August. If you reopen in mid-May you anticipate earning an annual profit of $30,000. If you reopen in early July you expect to earn a $5,000 profit and if you cannot reopen until late August you anticipate incurring a loss of $25,000. You think there is 50% chance that salons will reopen in mid-May and a 35% chance they will reopen in early July. Calculate your expected profit or loss. Hint: Set up an expected value table or decision tree.