1. During last year, Beta insurance company sold 30,000 health coverage policies to individuals whose age is between 40 and 60 years old. Medical expenses were estimated at $8,500,000 last year. If 47% of the premium is used to cover administrative expenses and the remaining covers the medical expenses, how much should Beta charge each policy holder? *

a. $534.59

b. $543.59

c. $602.84

d. $620.84

e. None of the above

Help please.