What would be the total fire insurance premium for Best Hardware if their $625,000 building belongs in structural classification B? The contents are worth $250,000 and they received an area rating of 1. Use Table 19-4. Round your answer to the nearest cent. A. What is the annual premium for the building? B. What is the annual premium for

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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What would be the total fire insurance premium for Best Hardware if their $625,000 building belongs in structural classification B? The contents are worth $250,000 and they received an area rating of 1. Use Table 19-4. Round your answer to the nearest cent.

A. What is the annual premium for the building?

B. What is the annual premium for the contents?

Area
Rating
123
4
5
Building
$.21
.38
44
.59
64
A
Contents
$.24
.42
.51
.68
73
Building
$.32
.39
.55
.76
92
Structural Classification
B
Contents
$.37
48
.66
.83
1.09
Building
$.38
43
.69
87
1.08
с
Contents
$.42
51
.77
1.04
1.13
Building
$.44
57
.76
.98
1.39
D
Contents
$.48
.69
85
1.27
1.43
Transcribed Image Text:Area Rating 123 4 5 Building $.21 .38 44 .59 64 A Contents $.24 .42 .51 .68 73 Building $.32 .39 .55 .76 92 Structural Classification B Contents $.37 48 .66 .83 1.09 Building $.38 43 .69 87 1.08 с Contents $.42 51 .77 1.04 1.13 Building $.44 57 .76 .98 1.39 D Contents $.48 .69 85 1.27 1.43
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