An insurer issues a 25-year annual premium endowment insurance with sum assured of $50000 to an individual aged 30. The insurer incurs initial expenses of $1000 plus 50% of the first premium, and renewal expenses of 2% of each subsequent premium. The death benefits are payable immediately on death.

(a) Write down the gross future loss random variable.

(b) Calculate the gross premium using the Illustrative Life table with 5% per year interest.