Calculate the expected payoff for the following cases with the formula: (P1)* (payoff if state 1)+ (P2)* (payoff if state 2),where P1 and P2 are the probabilities of state 1 and 2,respectively. 
Definitions:
Residual Value
The projected amount an asset is expected to yield when it is sold after its period of usefulness has ended.
Extraordinary Repair
Significant expenditures that extend the life of an asset or improve it beyond its original condition, often capitalized and not expensed immediately.
Machinery
Equipment, tools, and machines used in manufacturing or any industrial production process.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for an asset over its useful life.
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