The distribution of General Electric's stock price is described below. Compute the 95 percent VAR and the expected tail loss (ETL). VAR is defined from the cutoff price in the table such that the probability of having a price strictly greater that the cutoff price is at least 95 percent. The expected tail loss should be derived from the probability- weighted (expected) price including the cutoff level.

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10 12 15 Price () Probability 0.03 0.20 0.52 0.00.03 0.01