Assume that the annual premium for a $10,000 ordinary life insurance policy issued to a female, age 30, is $150 (paid at the start of each year). Accumulated dividends over a 20-year period are $599 if we did not consider the time value of money, and the cash surrender value at the end of the twentieth year is $2400. What is the average cost per $1000 per year using the traditional net cost method?

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