Find the amount paid by each of the multiple carriers.A building with a replacement cost of $1,100,000 has fire damages of $360,000. The insurance coverage is split between Company A ($500,000) and Company B ($300,000). Find (a) the amount of the loss covered and (b) amount paid by each company. (Note that the coinsurance requirement has not been met.)
A. (a) $327,272.73
(b) Company A: $163,636.36
Company B: $163,636.36
B. (a) $327,272.73$204,545.45
(b) Company A: $204,545.45
Company B: $122,727.27
C. (a) $360,000
(b) Company A: $225,000.00
Company B: $135,000.00
D. (a $360,000
(b) Company A: $180,000.00
Company B: $180,000.00
Answer: B
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