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John has a PAP with Liability coverage limits of 50/100/50 and a $5,000 Medical Payments coverage limit. He collides with another car (he is at fault) and the following losses are incurred:
Bodily injury to the driver of the other car = $146,612.
Bodily injury to the passenger of the other car = $15,762.
Property damage to the other car = $23,847.
Bodily injury to Gerry's wife = $7,266.
How much will the PAP pay, in total, for this accident?
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It is 1 January 2005, and you are interested in finding the cost of equity rE of your company. After a quick search you have found the following data.
Prepare the journal entry that would be recorded on January 1, 2012.
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