FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

3. John owns a house. He insured it for 150,000 with the clause of replacement cost insurance. The house is 10 years old and has

3. John owns a house. He insured it for 150,000 with the clause of replacement cost insurance. The house is 10 years old and has a useful life of 100 years. Its market fair value is 140,000. How much will John collect for his loss, if his house is totally destroyed in tornado? Explain your answer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management Theory And Practice

Financial Management Theory And Practice

Authors: Eugene F Brigham, Michael C Ehrhardt

11th Edition

0324259689, 9780324259681

More Books

Students also viewed these Finance questions

Question

★★★★★
JRC, Inc. is a multinational U.S. public company that operates in more than 10 countries. Based on the belief that the SEC is likely to require a move to IFRS, the CEO has decided to form an IFRS...

Answered: 1 week ago

Question

★★★★★
Complete the Cost of Goods Sold section for the income statements of the following five companies: Able Baker Carter Company Company Company Delmont Eureka Company Company 15,300 32450 $19,200 1,800...

Answered: 1 week ago

Question

★★★★★
=+a consulting firm that seemed to go very well. Theres a chance that they will want you to stay for a few days at the end of the semester for a round of interviews at their offices, which will mean...

Answered: 1 week ago

Question

★★★★★
The Shank Corporation issued $1,500,000 of 10% convertible bonds for $1,620,000 on March 1, 2006. The bonds are dated March 1, 2006, pay interest semiannually on August 31 and February 28, and the...

Answered: 1 week ago

Question

★★★★★
Which of the following is TRUE about the MERGE statement? Question 1 0 Select one: A . In a MERGE statement, you can have only one when matched and one when not matched clause B . A target table row...

Answered: 1 week ago

Question

★★★★★
Please show cell formulas used to get the answer. Also, please answer all questions posted. Thanks! Download the Applying Excel form and enter formulas in all cells that contain question marks. For...

Answered: 1 week ago

Question

★★★★★
Miller Company's contribution format income statement for the most recent month is shown below: Sales (20,000 units) Variable expenses Contribution margin Fixed expenses Total $ 300,000 180,000...

Answered: 1 week ago

Question

★★★★★
Table below shows the concentration of dissolve oxygen for a BOD test, diluted by 100. Time (days) Diluted sample DO (mg/L) 0 7.95 1 3.75 2 3.45 3 2.75 4 2.15 5 1.8 i. Determine BOD5 ii. Given the...

Answered: 1 week ago

Question

★★★★★
Why are Confidence intervals often misinterpreted and commonly confused with the probability that something is likely to happen

Answered: 1 week ago

Question

★★★★★
A goes to B's shop & purchases a silk saree thinking that it is made ofBanarast silk. The shopkeepers knows that 'A's thinking is wrong. Hehowever, does not correct 'A's impression latter on, when 4...

Answered: 1 week ago

Question

★★★★★
Logistics Solutions provides order fulfillment services for dot.com merchants. The company maintains warehouses that stock items carried by its dot.com clients. When a client receives an order from a...

Answered: 1 week ago

Question

★★★★★
=+What is your personal mission statement?

Answered: 1 week ago

Question

★★★★★
=+4. What skills are needed to create a sustainable personal brand? What areas do you feel most confident in? What areas do you feel you need to work on?

Answered: 1 week ago

Question

★★★★★
=+1. Define personal brand. What are three components to take into consideration when exploring what a personal brand is?

Answered: 1 week ago

Previous Question Next Question