You are working to evaluate the risk of flood to an area as part of a business continuity planning (BCP) effort. You consult the flood maps from the Federal Emergency Management Agency (FEMA) According to those maps, the area lies within a 200-year flood plain. What is the annualized rate of occurrence (ARO) of a flood in that region?
a.0.02
b.0.01
c.0.005
d.200