The manager for a growing firm is considering launching a new product. If the $\mathrm{e}$ ( $\mathrm{Ce}$ product goes directly to market, there is a 50 percent chance of success. For $$\$ 175,000$$, the manager can conduct a focus group that will increase the product's chance of success to 65 percent. Alternatively, the manager has the option to pay a consulting firm $$\$ 390,000$$ to research the market and refine the product. The consulting firm successfully launches new products 80 percent of the time. If the firm successfully launches the product, the payoff will be $$\$ 1.9$$ million. If the product is a failure, the NPV is zero. Which action will result in the highest expected payoff to the firm?