Find fair premium for an insurance product that provide coverage of a risky event with the following loss distribution. Round to two decimal placeswhen calculating your answer. (6 points)

Loss amount ($)	Probability
100,000	0.02
20,000	0.05
5,000	0.1
0	0.83

The insurance has a deductible of $5,000. The underwriting costs are 20% of pure premium, claims are paid at end of year, the interest rate is 10%, and claim processing costs are $5,000. The fair profit loading is 5% of pure premium.