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ASSIGNMENT NO. 1 No. 1 Your friend John works for an insurance company. John holds a business degree and has been involved in the insurance
ASSIGNMENT NO. 1 No. 1 Your friend John works for an insurance company. John holds a business degree and has been involved in the insurance business for many years. In a recent conversation, John shares some company information with you. He has heard that the internal auditors estimate that the company has lost about $2.5 million over the last year as a result of fraud. Because you are a certified fraud examiner, John asks you how this will affect the company's profitability. John doesn't have access to the company's financial information. Question: Compute the additional revenues needed to make up for the lost money, assuming that the company has profit margins of 5, 10, and 15 percent. (6 points)
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