Darn Berhad has discovered the loss distribution faced by each project as follows: The risk premium for Alam Damai and Mesra Alam are 4.8 percent and 2.8 percent respectively and risk-free rate is 7.2 percent for both projects Additional information: (i) All claim payments will be made at the end of year five for Alam Damai and six years for Mesra Alam. (ii) Marketing expenses are 11.4 percent of the expected claim cost. (iii) Loss adjustment expenses for Alam Damai and Mesra Alam are 24 percent and 26.6 percent of the expected claim cost respectively. (iv) Premium taxes cost are 8.75 percent of expected claim cost. (v) Underwriting costs for Alam Damai and Mesra Alam are 23.3 percent and 19.6 percent of expected claim cost respectively. (vi) Profit loading is 5.5 percent of expected claim cost. (vii) Cost of claim processing is RM123,850 for Alam Damai and RM190,675 for Mesra Alam. Based on the information above, calculate the fair premium for each project. (20 marks)