Answer:
The correct answer is $112,000.
Explanation:
According to the scenario, the given data are as follows:
Home insured = $160,000
Cost to rebuild = $180,000
Personal property coverage = 70%
So, we can calculate the amount of coverage by using following formula:
Amount of coverage = Home insured × Personal property coverage
By putting the value, we get
Amount of coverage = $160,000 × 70%
= $112,000
Answer:
$35,000
Explanation:
Given that
Insurance = $700,000
Sustained cost = $40,000
Replacement cost = $1,000,000
Policy = 80%
The computation of amount eligible for payment is as shown below:-
Insurance required = Cost of building × Co insurance
=$1,000,000 × 0.80
= $800,000
The amount eligible for payment = (Insurance Carried ÷ Insurance Required) × Loss
= $700,000 ÷ ($1,000,000 × 80%) × ($40,000)
= $700,000 ÷ $800,000 × $40,000
= 0.875 × $35,000
= $35,000
<span>Payment for the use of a copyrighted work is called a tax
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Answer:
C) $1000
Explanation:
First lets calculate the cumulative preferred stock dividend for 2 years
(1000 * 10 ) * 5% = 500 / year
so for 2 years = $1000 since it is cumulative and not paid in one year is added to next year.
Total dividend payable = $2000
so for common stock whatever is left over is paid thus,
Common stock share = Total - Preferred cumulative = 2000 - 1000 = $1000
Hope that helps.
Answer:
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