For a special 5-year fully-discrete term insurance on (50) you are given:

1. Benefits are 4000k paid at the end of year k, k = 1, 2 or 3, if death occurs in year k.
2. Premiums are level and determined by the equivalence principle.
3. The remaining lifetime of (50) is uniform on [0,60].
4. i = 7%

Compute the premium P.