I need help with my assignment please

Assume that you are the Risk Control Manager for a large distribution company. Historically, the company has utilized a guaranteed cost program for workers compensation. Assume that the standard premium is approximately $2,000,000 per year. Over the past several years the company has done very well in controlling workers compensation losses, accumulating approximately $250,000 in incurred cost per year. As a result of the company's excellent loss history, they are considering utilizing a retrospective rated program. What would be the approximate yearly cost saving to the organization if they did decide to use a retrospective rated program as opposed to the guaranteed cost program. (Assume that actual losses will continue to be $250,000). Assume the following: * * Tax Retro Formula: Premium [(Standard Premium Multiplier Basic Factor) + (Actual Losses Loss Conversion Factor)] Basic Factor - 35 Minimum Factor - .40 Maximum Factor - 1.25 Loss Conversion Factor - 1.50 Tax Multiplier-1.03