Racehorse a man buys a racehorse for $20,000 and en- ters it in two races. he plans to sell the horse afterward, hoping to make a profit. if the horse wins both races, its value will jump to $100,000. if it wins one of the races, it will be worth $50,000. if it loses both races, it will be worth only $10,000. the man believes there’s a 20% chance that the horse will win the first race and a 30% chance it will win the second one. assuming that the two races are independent events, find the man’s expected profit.