Suppose a life insurance company sells a $240,000 one-year term life insurance policy to a 20-year-old female for $310. The probability that the female survives the year is 0.999492. Compute and...

Extracted text: Suppose a life insurance company sells a $240,000 one-year term life insurance policy to a 20-year-old female for $310. The probability that the female survives the year is 0.999492. Compute and interpret the expected value of this policy to the insurance company. The expected value is $ (Round to two decimal places as needed.)