Robert had an accident and injured a driver and her car. He has auto insurance with the minimum coverage for Illinois. He also has medical payments coverage of $1,000 and a $250 deductible on his collision coverage. The driver's injuries cost $5,000 and damages to her car cost $3,000. Robert's car had damages costing $4,000. How much will the Insurance company pay for these claims?   $12,000 $11,250 $11,750 $3,750

Individual Income Taxes
43rd Edition
ISBN:9780357109731
Author:Hoffman
Publisher:Hoffman
Chapter4: Gross Income: Concepts And Inclusions
Section: Chapter Questions
Problem 10DQ: Wade paid 7,000 for an automobile that needed substantial repairs. He worked nights and weekends to...
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Robert had an accident and injured a driver and her car. He has auto insurance with the minimum coverage for Illinois. He also has medical payments coverage of $1,000 and a $250 deductible on his collision coverage. The driver's injuries cost $5,000 and damages to her car cost $3,000. Robert's car had damages costing $4,000. How much will the Insurance company pay for these claims?

 

  1. $12,000
  2. $11,250
  3. $11,750
  4. $3,750
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