As the owner of a business, Karen needs fire insurance. Her building is worth $726,000 and the contents are valued at $673,000.Her agent placed the building in structural classification B and area rating 2. Use Table 19-4 to calculate her total premium.Round your answer to the nearest cent. TABLE 19-4 Annual Fire Insurance Premiums (per $100 of Face Value)Structural ClassificationAвD.AreaRatingBuildingContentsBuildingContentsBuildingContentsBuildingContents$.21$.24$.32$.37$.38$.42$ 44$ 4838423948435157.693.44.51.55.66.69.77.7685459.68.76.83871.04.981.27.64.73.921.091.081.131.391.43

Total premium = Building premium + content premium

As the owner of a business, Karen needs fire insurance. Her building is worth $726,000 and the contents are valued at $673,000. Her agent placed the building in structural classification B and area rating 2. Use Table 19-4 to calculate her total premium. Round your answer to the nearest cent.

As the owner of a business, Karen needs fire insurance. Her building is worth $726,000 and the contents are valued at $673,000. Her agent placed the building in structural classification B and area rating 2. Use Table 19-4 to calculate her total premium. Round your answer to the nearest cent.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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As the owner of a business, Karen needs fire insurance. Her building is worth $726,000 and the contents are valued at $673,000.
Her agent placed the building in structural classification B and area rating 2. Use Table 19-4 to calculate her total premium.
Round your answer to the nearest cent.

TABLE 19-4 Annual Fire Insurance Premiums (per $100 of Face Value)
Structural Classification
A
в
D.
Area
Rating
Building
Contents
Building
Contents
Building
Contents
Building
Contents
$.21
$.24
$.32
$.37
$.38
$.42
$ 44
$ 48
38
42
39
48
43
51
57
.69
3
.44
.51
.55
.66
.69
.77
.76
85
4
59
.68
.76
.83
87
1.04
.98
1.27
.64
.73
.92
1.09
1.08
1.13
1.39
1.43

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