Refer to the information provided in Figure 17.1 below to answer the question(s) that follow.
Refer to Figure 17.1. John has two job offers when he graduates from college. John views the offers as identical, except for the salary terms. The first offer is at a fixed annual salary of $50,000. The second offer is at a fixed salary of $20,000 plus a possible bonus of $60,000. John believes that he has a 50-50 chance of earning the bonus. What is the expected value of John's income for each job offer?
◦ $50,000 for the first offer and $80,000 for the second offer
◦ $50,000 for the first offer and $50,000 for the second offer
◦ $50,000 for the first offer and $30,000 for the second offer
◦ $25,000 for the first offer and $50,000 for the second offer
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