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An insurance company's projected loss ratio is 7 8 . 4 percent, and its expense ratio is 2 3 . 9 percent. It estimates that

An insurance company's projected loss ratio is 78.4 percent, and its expense ratio is 23.9 percent. It estimates that dividends to policyholders will add another 5 percent. What is the minimum yield on investments required in order to maintain a positive operating ratio? (LG15-6)

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