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Mary Beth is an actuary for XYZ Property Insurance Company. Mary Beth Calculated the pure premium rate for a coverage line to be $120. Assuming

Mary Beth is an actuary for XYZ Property Insurance Company. Mary Beth Calculated the pure premium rate for a coverage line to be $120. Assuming an expense ratio of 20 percent (expenses equal to 20 percent of the gross rate).

What is the gross rate for this coverage?

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