Hey can someone help me on the following questions please.

After graduating, John receives a job offer which pays 42000/year. He knows that their is 1% chance the comapny might go bankrupt. Alternatively, he is thinking of opening his own firm with predicted net payoffs:

Probability 0.1 Value After 1 Year 0

Probability 0.7 Value After 1 Year 40000

Probability 0.2 Value After 1 Year 80000

a) John's utility function is U(I) = sq. root ( I ). Which occupation would he prefer?

b)Assume that John decided in favour of starting his firm. However, just before starting John is offered a position at Pepsi with a fixed salary. John's utility function is U(I) = sq. root (I) . Calculalte the fixed salary that makes John indifferent between starting his own firm and taking Pepsi's job offer. Calculate John's risk-premium.

c) How would your preferences from part a) change if John's utility was represented by U(I) = I^2. Show mathematically. What is the economic intuition behind the new risk-premium.

Thanks for all the help in advance.