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A commercial building was insured against fire for $400,000. The insurance rate was $.60 per $100.00 for a three (3) year period. How much was

A commercial building was insured against fire for $400,000. The insurance rate was $.60 per $100.00 for a three (3) year period. How much was the insurance premium for one (1) year? a) $800.00 b) $560.00 c) $720.00 d) $640.00

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