MQ insurance company issues life annuities. It prices these annuities using the following probabilities. Survival probability Year Probability of surviving from start of year to end of year 1 0.87 2 0.66 3 0.5 0 4 The annuities pay $50,000 at the end of each year while the policyholder is alive. MQ insurance believes it can earn 9% p.a. interest on investments. MQ insurance has an initial cost of $50 at the date of issue. (b) What is the policyholder's probability of dying in Year 3? Select one: a. 0.2871 b. 0.2958 c. 0.4258 d. 0.5742