Assume that QUALCOMM Inc has an annual expected profit of 40 million dollars and a historical standard deviation estimation of 60 million dollars for its profit distribution. If the Value at Risk (VaR) level is set at 0.125 and corresponding Z-value is 1.15, find how much QUALCOMM Inc could potentially lose in millions of dollars for a given year.

Select one:

a. 51.86

b. 29.00

c. none of the answers is correct

d. 19.00

e. 31.63