Question: this is my THIRD time posting this. PLEASE type out answer, handwriting is hard to read. PLEASE use correct numbers, the last 2 times I

this is my THIRD time posting this. PLEASE type out answer, handwriting is hard to read. PLEASE use correct numbers, the last 2 times I posted this the person answering used the incorrect variables. Thank you.

9. Suppose your utility function is given by U(W)-Wand your initial wealth is $500,000. If there is a 1% chance that a liability lawsuit will reduce your wealth to $50,000, how much premium will you be willing to pay to get rid of the risk?|

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