If Carissa Dalton has a $410,000 home insured for $320,000, based on the 80 percent coinsurance provision, how much would theInsurance company pay on a claim of $17,500? Assume there is no deductible. (Do not round intermediate calculations. Round youranswer to 2 decimal places.)Amount paid

Calculation of amount paid by insurance company;Given, Value of home = $410,000 Insurance coverage…

Answered: If Carissa Dalton has a $410,000 home…

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter4: Gross Income: Concepts And Inclusions

Section: Chapter Questions

Problem 21CE

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On January 1, 2019, Kunto, a cash basis taxpayer, pays 46,228 for a 24-month certificate. The certificate is priced to yield 4% (the effective interest rate) with interest compounded annually. No interest is paid until maturity, when Kunto receives 50,000. In your computations: a. Compute Kuntos gross income from the certificate for 2019. b. Compute Kuntos gross income from the certificate for 2020. Round any amounts to the nearest dollar.
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If Carissa Dalton has a $410,000 home insured for $320,000, based on the 80 percent coinsurance provision, how much would the Insurance company pay on a claim of $17,500? Assume there is no deductible. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Amount paid