2. The EPA has notified a company of violations of environmental laws relating to hazardous waste. Thes e actions sek cleanup cus, The cleanup cost could be as high as $4.000.000 or as lttle as $500,000, and insurance could reimburse all penalties and damages to property. The company is reasonably certain there will be cost associated with the cleanup, but cannot or part of the cost. There is no way to more accura each of the past three years. However, it has had no losses for the current year. Man tely estimate the cost to the company at this time. 3. Holland Company does not carry property damage insurance because of the cost. The company has suffered su agement thinks this is too good to be true and is sure there wll be significant losses in the coming year. However, the exact amount cannot be determined Required o. What are three categories of contingent liabilities