A profit test is conducted for a Type B universal life policy of 100,000 on (60). (i) You are given the following charges for the sixth year: (a) Expense charge: 5% of premium plus 50. (b) Cost of insurance is based on 105% of the Illustrative Life Table. (c) Surrender charge is 1000. (d) Interest is credited at 5%. (ii) You are given the following assumptions for the sixth year: (a) Expenses paid at beginning of year: 5% of premium plus 50. (b) Mortality rate is 100% of the Illustrative Life Table. (c) Surrender rate is 10% in the first year, 6% in renewal years. (d) Cost of processing a death claim is 200. (e) Cost of processing a surrender (even if cash value is zero) is 50. 0 Interest is earned at 5.5%. (iii) The account value at the beginning of the sixth year is 7,500. (iv) The policyholder pays a premium of 2000 at the beginning of the sixth year. Calculate 116, the profit signature in year 6. A profit test is conducted for a Type B universal life policy of 100,000 on (60). (i) You are given the following charges for the sixth year: (a) Expense charge: 5% of premium plus 50. (b) Cost of insurance is based on 105% of the Illustrative Life Table. (c) Surrender charge is 1000. (d) Interest is credited at 5%. (ii) You are given the following assumptions for the sixth year: (a) Expenses paid at beginning of year: 5% of premium plus 50. (b) Mortality rate is 100% of the Illustrative Life Table. (c) Surrender rate is 10% in the first year, 6% in renewal years. (d) Cost of processing a death claim is 200. (e) Cost of processing a surrender (even if cash value is zero) is 50. 0 Interest is earned at 5.5%. (iii) The account value at the beginning of the sixth year is 7,500. (iv) The policyholder pays a premium of 2000 at the beginning of the sixth year. Calculate 116, the profit signature in year 6