A small financial services company stores customer data on a…

A small financial services company stores customer data on an internal server. Historical data shows that a ransomware attack has a 20% chance of occurring each year. If a successful attack occurs, the estimated total impact (including downtime, recovery costs, legal fees, and reputational damage) each time it happens would be $50,000. Question:Calculate the Annualized Loss Expectancy (ALE) for this risk. Show your work.