A manufacturing compan prepays its insurance coverage for a three-year period. The premium for the three years is $2.790 and is pald at the beginning of the first year Seventy percent of the premium applies to manufacturing operations and thirty percent applles to selling and administrative activities. Whet amounts should be considered product and period costs respectively for the first year of coverage? Product Period o $2.790 O $1.302 O $1.953 O$651 so $0 $558 $837 $279