The insurance carrier used by Wayne's Pool Service specifies 65 coinsurance. The company recently incurred 233,000 in damages from a tornado. The building was valued at 390,000, but was only insured for 209,000. What will the insurance company pay for the loss?
A) 144,460.00
B) 192,098.62
C) 209,000.00
D) 233,000.00
Q. 2Scott Stewart is the self-employed owner of Stewart Software. His estimated annual earnings are 48,000.00 and he expects to pay 18 of this amount in income tax. What will be his quarterly estimated tax payment for the second quarter? (For self-employed persons, social security tax is 12.4 of wages up to 106,800, and Medicare tax is 2.9 of all wages.)
A) 348.00
B) 2,160.00
C) 3,996.00
D) 1,488.00
Q. 3A flood caused 620,000 in damages to a building owned by Super Storage Inc The building, valued at 1,035,000, was insured for 847,000 despite a coinsurance requirement of 90 in their policy. How much of the loss will be covered by the insurance company?
A) 558,000.00
B) 620,000.00
C) 507,381.64
D) 563,757.38
Q. 4Bono is the self-employed owner of JAB Consulting. Her estimated annual earnings are 68,480.00 and she expects to pay 22 of this amount in income tax. What will be her quarterly estimated tax payment for the second quarter? (For self-employed persons, social security tax is 12.4 of wages up to 106,800, and Medicare tax is 2.9 of all wages.)
A) 6,385.76
B) 3,766.40
C) 2,122.88
D) 496.48
Q. 5Halbrooke Warehouse Inc recently incurred 263,000 in damages from an earthquake. Fireman's is responsible for 47,500 out of a total of 475,000 coverage provided by multiple carriers. If all coinsurance requirements have been met, how much of the loss will be paid by Fireman's?
A) 26,300
B) 236,700
C) 263,000
D) 47,500
Q. 6Juanita is the self-employed owner of Juanita's Linens. Her estimated annual earnings are 73,040 and she expects to pay 27 of this amount in income tax. What will be her quarterly estimated tax payment for the third quarter? (For self-employed persons, social security tax is 12.4 of wages up to 106,800, and Medicare tax is 2.9 of all wages.)
A) 2,264.24
B) 4,930.20
C) 7,723.98
D) 529.54
Q. 7Oxdale Kennels has insured its building with multiple companies for a total of 1,149,000, of which 976,650 is with Nationwide. Assuming that all coinsurance requirements have been met, how much would Nationwide be responsible for in the event of a 205,000 fire?
A) 205,000
B) 172,350
C) 174,250
D) 30,750
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