An insurer has excess-of-loss reinsurance on auto insurance. You are given: The insurer's total expected losses in year 2020 are 10,000,000. In year 2020, individual losses follow a distribution 2 F(x)=1- 2.000 + 2,000 X>0. The reinsurer will pay the excess of each loss over 3,000. Each year, the reinsurer is paid a ceded premium equal to 110% of the expected losses covered by the reinsurance. Individual losses increase 6% each year due to inflation; that is, an individual loss in year 2021 is equal in distribution to (1 + 6%) times an individual loss in year 2020. The frequency distribution does not change. Calculate the ceded premium in 2021. An insurer has excess-of-loss reinsurance on auto insurance. You are given: The insurer's total expected losses in year 2020 are 10,000,000. In year 2020, individual losses follow a distribution 2 F(x)=1- 2.000 + 2,000 X>0. The reinsurer will pay the excess of each loss over 3,000. Each year, the reinsurer is paid a ceded premium equal to 110% of the expected losses covered by the reinsurance. Individual losses increase 6% each year due to inflation; that is, an individual loss in year 2021 is equal in distribution to (1 + 6%) times an individual loss in year 2020. The frequency distribution does not change. Calculate the ceded premium in 2021