I would upvote! Practice question

Suppose your company want to insure a building worth $4,300,000. The probability of loss is 1.70% in one year and the relevant discount rate is 6.00%. Suppose you make modifications to the building that will reduce the probability of a loss to 0.5%. How much would you willing to pay for these modifications? Round the insurance premium to two decimals (e.g. 220.05) and the unit is (\$). Your Answer: Answer units Suppose your company want to insure a building worth $4,300,000. The probability of loss is 1.70% in one year and the relevant discount rate is 6.00%. Suppose you make modifications to the building that will reduce the probability of a loss to 0.5%. How much would you willing to pay for these modifications? Round the insurance premium to two decimals (e.g. 220.05) and the unit is (\$). Your Answer: Answer units