The Crayton Life Insurance Company determined that 75 policies in a block of 500 policies lapsed for nonpayment of renewal premiums. This information indicates that the lapse rate for this block of policies during this specified period is 15%, and the persistency rate is 85% 30%, and the persistency rate is 70% 70%, and the persistency rate is 30% 85%, and the persistency rate is 15%