What is the amount recoverable from the insurance company? The lawyers provided you with the following accurate and vali

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899604
Joined: Mon Aug 02, 2021 8:13 am

What is the amount recoverable from the insurance company? The lawyers provided you with the following accurate and vali

Post by answerhappygod »

What is the amount recoverable from the insurance company?
The lawyers provided you with the following accurate and valid
information.
Earnings before trial, had the harmful event not occurred was
$2,500,600
Actual earnings before trial was $1,670,000
Prejudgment interest was $740,000
Calculate the
damages before trial
(Hint: Use the Standard Formula for Damages
calculations prescribed by the Federal Judicial
Center’s Reference Manual on Scientific Evidence)
However, based on negotiations, the litigants (WCBA and the
insurance company) have agreed on the following cost elements:
Projected earnings after trial, had the harmful event not
occurred was $4,300,500 million
Project earnings after trial was $500,000
Discounting was $450,000
Required: Calculate the
damages after trial?
(Hint: Use the Standard Formula for Damages
calculations prescribed by the Federal Judicial
Center’s Reference Manual on Scientific Evidence)
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Post Reply