The following is a payoff table giving profits for various situations. 
The probabilities for states of nature A,B,and C are 0.3,0.5,and 0.2,respectively.If a perfect forecast of the future were available,what is the expected value with this perfect information?
Definitions:
Adjusted Basis
The original cost of an asset adjusted for improvements, depreciation, and certain tax-related adjustments used to calculate capital gains or losses.
Fair Market Value
An estimate of the market value of an asset or property, based on what a knowledgeable, willing, and unpressured buyer would likely pay to a knowledgeable, willing, and unpressured seller in the market.
Business Truck
A vehicle used for carrying goods related to a person’s business or commercial activities.
Holding Period
The length of time an investment is held by an individual or entity, affecting the tax treatment of any gains or losses.
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