1. Ken has $21,000 worth of property damage insurance and $500-deductible collision insurance. He caused an accident that damaged a $600 bench, and he also did $1,200 worth of damage to another car. His car had $3,500 worth of damage done. a. How much will the insurance company pay under Ken's property damage insurance? b. How much will the insurance company pay under Ken's collision insurance? c. How much of the damage must Ken pay for?

1. Ken has $21,000 worth of property damage insurance and $500-deductible collision insurance. He caused an accident that damaged a $600 bench, and he also did $1,200 worth of damage to another car. His car had $3,500 worth of damage done. a. How much will the insurance company pay under Ken's property damage insurance? b. How much will the insurance company pay under Ken's collision insurance? c. How much of the damage must Ken pay for?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter7: Losses—deductions And Limitations

Section: Chapter Questions

Problem 67P

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