For the past calendar year, a property insurer reported the following financial information for a specific line of insurance: Premiums written $30,000,000 Expenses incurred $6,000,000 Incurred losses and loss-adjustment expenses $11,000,000 Earned premiums $25,000,000 7a. What was the insurers loss ratio for this line of coverage? (3 points) 7b. Calculate the expense ratio for this line of coverage. (3 points) 7c. What was the combined ratio for this line of coverage?