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n200080 [17]
3 years ago
10

A class-action suit against a utility company resulted in a settlement of $2 million for 70,000 customers. If the legal fees, wh

ich must be paid from the settlement, are $400,000, what amount will each plaintiff receive?
Business
1 answer:
amm18123 years ago
6 0

Answer:

Each plantiff receives approximately $22.86

Explanation:

A class action lawsuit is one in which the plaintiff is a group of people, duly represented by a member of that group. In this case, the group of people is made up of 70,000 customers.

To calculate the amount each plaintiff receives, we will first subtract the legal fee from the total settlement, to obtain effective amount to be shared

Total settlement = $2,000,000

Legal Fees = $400,000

Therefore amount received all plaintiff = $2,000,000 - $400,000 = $1,600,000.

Next we will divide total amount to be shared by the number of plaintiff;

Amount each receives = $1,600,000 ÷ 70,000 = $22.857 = $22.86 (to 2 decimal places).

It is important that you know also that legal fees are amounts charge by lawyers on the settlement to be paid when filing a lawsuit. it is usually set as a certain percentage of the settlement amount to be paid.

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The business environment consists of several factors that affect a business's ability to be successful and operate profitably.Cr
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Answer:

1. technological

2. Social

3. Competitive

4. Economic and legal

5. Global

Explanation:

environmental forces can be defined as those factors that have the ability to affect or influence how an organization or business operates.

based on the question, 5 environmental forces have been identified with each:

<u>1. Technological</u>

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<u>2. Social</u>

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<u>4. Economic and legal</u>

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7 0
3 years ago
You purchase one IBM July 120 put contract for a premium of $3. You hold the option until the expiration date when IBM stock sel
ZanzabumX [31]

Answer:

Loss on putting for long time = $300 (Loss )

Explanation:

Given:

Strike price = $120

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Premium amount = $3 per share

Realize on investment = ?

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2 years ago
On January 1, 2020, Sunland Company purchased land for an office site by paying $2680000 cash. Sunland began construction on the
SIZIF [17.4K]

Answer:

Sunland Company

The amount of interest cost to be capitalized during 2020 is:

= $948,000.

Explanation:

a) Data and Calculations:

Cost of purchased land = $2,680,000

Construction expenditures:

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January 1, 2020       $ 1,780,000

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6-year note payable balance = $168,000 ($1,400,000 * 12%)

Total interest to be capitalized = $948,000

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