Midwestern Insurance Company specializes in automobile insurance. Based on the following data, what are the incurred but not reported (IBNR) reserves using the percentage method? Total Incurred Loss and Loss Expenses Months of Development IBNR Factor $1,750,000 48 .00 $2,000,000 36 .05 $2,250,000 24 .10 $2,500,000 12 .20 Available answer options Select only one option A $500,000 B $725,000 C $825,000 D $900,000