(1) A person commits the offense of arson in the first degree if the person intentionally or knowingly sets fire to or causes to be burned property and:
(a) Knowingly places another person in danger of death or bodily injury; or
(b) Knowingly or recklessly damages the property of another, without the other's consent, in an amount exceeding $20,000.
(2) Arson in the first degree is a class A felony.