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Calamity Casualty Insurance Company, a primary insurer, has a quota share treaty with Whitecherry Reinsurance Company, with a 70% retention. Calamity Casualty insured the Acme

Calamity Casualty Insurance Company, a primary insurer, has a quota share treaty with Whitecherry Reinsurance Company, with a 70% retention. Calamity Casualty insured the Acme Equipment Dealer for a limit of $2,000,000 and a premium of $1,000. What amount of the premium will Whitecherry Re receive? Show calculations. [Ignore ceding commissions for this exercise.]

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