this the wrong answer can you show and explain what the right answer is

Recalculate using a revised payout schedule - the revised payout schedule for worker's compensation is as follows: Year Payout % 1 10 2 2 15 3 20 4 25 5 30 If the firm insures this exposure, the premium will be $950,000 payable upon inception of the policy. The premium represents 70% loss and 30% administrative expense. a) Demonstrate and explain if there are any cash flow advantages of self-insuring this loss if the firm's cost of capital is 6%. All calculations must be shown and your recommendations must be fully supported. Year Payout % FV PV @ 6% 1 $665000 x 10 66500 + 285000 = 351500 21090 2 $665000 x 15 99750 + 285000 = 384750 23085 3 $665000 x 20 133000 + 285000 = 418000 25080 4 $665000 x 25 166250 + 285000 = 451250 27075 5 $665000 x 30 199500 + 285000 = 484500 29070 125400 Recalculate using a revised payout schedule - the revised payout schedule for worker's compensation is as follows: Year Payout % 1 10 2 2 15 3 20 4 25 5 30 If the firm insures this exposure, the premium will be $950,000 payable upon inception of the policy. The premium represents 70% loss and 30% administrative expense. a) Demonstrate and explain if there are any cash flow advantages of self-insuring this loss if the firm's cost of capital is 6%. All calculations must be shown and your recommendations must be fully supported. Year Payout % FV PV @ 6% 1 $665000 x 10 66500 + 285000 = 351500 21090 2 $665000 x 15 99750 + 285000 = 384750 23085 3 $665000 x 20 133000 + 285000 = 418000 25080 4 $665000 x 25 166250 + 285000 = 451250 27075 5 $665000 x 30 199500 + 285000 = 484500 29070 125400