A seller decides to sell an object by means of a sealed-bid, second-price auction without a reservation price. There are two bidders. The seller believes that for each of the two bidders there is a probability of 
that the bidder's value for the object is $600 and a probability of 
that the bidder's value is $300. The seller believes that these probabilities are independent between bidders. If the bidders bid rationally, what is the seller's expected revenue from the auction?
Definitions:
After-Tax Net Income
The amount of profit a company has left after paying all its taxes.
Straight-Line Depreciation
A method of allocating the cost of a tangible asset over its useful life in equal annual amounts, simplifying financial calculations.
Salvage Value
The envisaged monetary value of an asset when sold after its lifespan of utility.
Tax Rate
The percentage at which an individual or corporation is taxed.
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