Calculate the annual gross premium for the life annuity on (x).

7. For a 10-year deferred life annuity-due on (a) of 1000 per year, you are given: (i) Premiums are payable at the beginning of the first 10 years; (i) The annual net premium is 800; (i) Percent of premium expenses are 5%; iv) Expenses incurred with each annuity payment are 10.50; v) The gross premium s determined using equivalence principle. Determine the gross premium