Solve the following: ABC Insurance year end totals are, $$700,000\mathrm{.}00$ incurred losses, $4$ million earned premium and $$450\mathrm{.}000\mathrm{.}00$ in loss adjustment expenses.

Calculate the loss ratio for ABC Insurance.

$66\%$

$64\%$

$1\mathrm{.}55\%$

$32\%$