Sunlightning faces a potential $117 million loss that it would like to insure. An insurance firm has agreed to write an insurance policy that will pay Sunlightning $117 million in the event of loss. The insurance company estimates that the chance of the loss is 8% and the risk of loss is diversifiable. However, the insurance company charges 13% more than the actuarially fair premium to cover administrative expenses. Assume the risk-free rate of interest is 2.2%, and the return on the market is 8.2%. The insurance premium Sunlightning needs to pay is closest to: a. $8.65 million O b. $9.16 million c. $9.78 million O d. $10.35 million