7. For a fully discrete 20-year endowment insurance of 10,000 on (50), you are given: Mortality follows the Standard Ultimate Life Table i 0.05 The annual premium is 495. Expenses are payable at the beginning of the year. The expenses are: YearPercent of Premium Per Polic Per 1000 of Insurance First year Renewal 35% 20 15.00 5% 1.50 Calculate the expected present value of amounts available for profit and contingencies