Sharpe Knife Company expects sales next year to be $1,660,000 if the economy is strong, $880,000 if the economy is steady, and $660,000 if the economy is weak. Mr. Sharpe believes there is a 15 percent probability the economy will be strong, a 50 percent probability of a steady economy, and a 35 percent probability of a weak economy.
What is the expected level of sales for the next year?