An insurance policy sells for$1200.Based on pastdata, an average of 1 in50policyholders will file a$10,000claim, an average of 1 in250policyholders will file a$40,000claim, and an average of 1 in500policyholders will filea$60,000claim. Find the expected value(to thecompany) per policy sold. If the company sells20,000policies, what is the expected profit orloss?

The expected value is $_______

The expected __________ ( profit or loss)

is $___________________.