Andrew and Barry are brothers. They are aged 65 and 67 exact respectively. They have just both retired and wish to buy an annuity with their retirement lump sum of $1,500,000. Assume AM92 ultimate mortality and interest of 4% per annum. a. Calculate the amount they could receive each year if they want the annuity to reduce to 60% of the original amount on the death of the first brother. b. How would the amount calculated in part (a) change if the insurer insisted on expenses of $200 at the time of each annuity payment? c. Suppose Andrew and Barry would like to leave their stamp collection to their niece after they die. This collection has a fixed value of $2,000 and it will go tc their niece at the end of the year of death of the second brother. What is the EPV of this benefit