Exercise $7\mathrm{.}1$ For a whole life insurance issued to $(40),$ you are given:

$($i$)$ The death benefit, which is payable at the end of the year of death, is

$$50000$ in the first $20$ years, and $$100000$ thereafter.

$($ii$)$ Level annual premiums are payable for $20$ years or until earlier death.

$($iii$)$ The mortality basis for policy values is the Standard Ultimate Survival

Model.

$($iv$)$ The interest basis for policy values is $5\%$ per year.

Calculate the net premium policy value, ${?}_{10}V.$