An insurance company issues a one-year $1000 policy insuring against an occurrenceAthathistorically happens to 2 out of every 100 owners of the policy. Administrative fees are $15 perpolicy and are not part of the company's "profit." How much should the company charge for thepolicy if it requires that the expected profit per policy be $50? [Hint:IfCis the premium for thepolicy, the company's "profit" isC15 ifAdoes not occur andC151000 ifAdoes occur.]