Suppose you are 30 and have a $40,000 face amount, 20-year, limited-payment, participating policy (dividends will be used to build up the cash value of the policy). Your annual premium is $360. The cash value of the policy is expected to be $1,600 in 20 years. Using time value of money and assuming you could invest your money elsewhere at an annual yield of 7 percent, calculate the net cost of insurance. Use Exhibit 1-B. (Do not round Intermediate calculations. Round time value factor to 3 decimal places and final answer to the nearest whole number.) Net cost of insurance 1:|:# 1:|: : 1: 1:|: : 1:|: : 1:|: :/ 09 1211 4 7 201u 21:45 EEEEEEEEE BE BERDEEEEEEEEE