A company manufactures 200,000 bicycle tires each year. On average, 100 tires suffer damage annually. Using the formula P (physical damage) = X (number of events likely to occur) ÷ N (number of exposure units), what is the probability a tire will be damaged in any given year? Question 2 options: 1) .5 percent 2) 5 percent 3) .05 percent 4) .0005 percent