9.7. You are to calculate rates effective for the year beginning Jan. 1, 2020 for one-year policies using the loss cost method. You are given the following data: Accident Year Earned Exposure Earned Premium 750,015 780,120 Units 855 886 Ultimate Losses (Fully Developed) 572,850 564,825 2017 2018 You are also given: (i) Rates are based on a weighted average with weights of 40% on 2017 and 60% on 2018. (ii) Trend is 5%. (iii) The permissible loss ratio is 65%. Calculate the gross rate. 9.7. You are to calculate rates effective for the year beginning Jan. 1, 2020 for one-year policies using the loss cost method. You are given the following data: Accident Year Earned Exposure Earned Premium 750,015 780,120 Units 855 886 Ultimate Losses (Fully Developed) 572,850 564,825 2017 2018 You are also given: (i) Rates are based on a weighted average with weights of 40% on 2017 and 60% on 2018. (ii) Trend is 5%. (iii) The permissible loss ratio is 65%. Calculate the gross rate