Dandy Rentals is comparing property insurance bids from multiple commercial insurance companies. the coverage amounts in each bid are similar and experience indicates that 9 losses of $3,000 each can be expected at Dandy Rentals. Which policy would best meet their financial needs?

1. Annual premium of $30,000 with a $5,000 deductible

2. Annual premium of $50,000 with a 1,000 deductible

3. Annual premium of $40,000 with a $3,000 deductible

4. Annual premium of $65,000 with a $500 deductible