Present value. Standard Insurance is developing a long -ife insurance policy for people who outlive their retirement nest egg. The policy will pary out $200,000 on your Both bithday. You must buy the policy on your 62 ind birthdiny. The insurance company can eam 7.5% on the purchase price of your policy. What is the minimum purchase price the insurance compary should charge for this policy? What is the minimum purchase price the insurance company should charge for this policy? (Round to the nearest cent)