[Get Solution] Insurance Premium

This assignment is for 25 points of extra credit. It will show as a regular assignment in the grade book and the percentage score for 1 point – but it is worth 25. This is done to help keep the percentages in the grade book accurate.All assignments must be submitted as an attachment using Microsoft Word (not Works) or Rich Text Format (.rtf) files, through Canvas. If you cannot do this contact me well before the due date.The subject line of your attachment needs to read: BA120 (your name) Assign2. For Example, if John Smith were turning in assignment #2 his email subject line would be: BA120 Smith Assign3Submit all work through Canvas.To download the assignment as a Word Document, click this link (Links to an external site.).Read the following scenario and complete the questions and tasks below.Brad Winston is the owner and operator of Fishing Unlimited, a charter fishing business operated out of Oregon Inlet, NC. Brad has been taking groups of guests offshore to fish for tuna and marlin for over 15 years. He purchased his current fishing boat when he started the business, but now believes that a larger and better outfitted vessel would allow him to increase the rate he charges per charter. Currently he can carry a maximum of 6 guests while the larger boat will carry up to 8. The larger boat would also require him to take 2 deck hands on each outing, providing better service to his customers. Cost data for Brad’s business is shown in the table below.Fishing UnlimitedAnnual straight-line depreciation on boat $ 8,300($175,000 original cost – $90,000 estimated resale value/20 years)Fuel Cost (per hour) $ 50Insurance Premium (annual) $ 1,900Maintenance and Repairs (annual) $ 3,500Fishing Tackle and Gear (original cost) $ 7,000Tackle and Bait (per guest) $ 20Deck Hand wages (per hour) $ 20Dock Fees (annual) $ 2,400Captain’s License (annual) $ 200Food and Beverages (per guest) $ 25Professional Fees (per year) $ 750Dock Utilities (annual) $ 1,200Brad has someone interested in purchasing his existing boat for $80,000. He could use this cash as a deposit on the new boat which will cost him $225,000. His banker estimates the payments on the new boat will be about $1,500. The new boat is more fuel efficient and he believes he can cut his fuel costs by 10% but the more expensive boat will increase his insurance premium by 12%. He is also concerned that he will have to change to a larger boat slip which would increase his dock fees by 5%. The good thing about the new boat is that he should save on maintenance and repairs, at least for the first 3 years. The only other expense Brad would incur with the new boat is adding some additional fishing tackle and gear to accommodate larger parties that he estimates would cost him about $1,500.His fees for both the old and the new boat are as follows:Old BoatNew Boat4 hours $ 550 $ 6006 hours $ 650 $ 700Full Day (9 hours) $ 1,100 $ 1,200Questions:Which costs are relevant to Brad’s decision to purchase a new, larger boat?If Brad decides to purchase a larger boat, what costs will be affected by this decision? Will they increase or decrease?Identify any unavoidable costs associated with the operation of Fishing Unlimited.Calculate the revenue generated by a 6-hour trip with the old boat (6 guests) and the new boat (8 guests) and compare the two figures. Identify the costs that changed. What conclusion can you draw based on your analysis?Hint: Your best first step will be to list the current costs and then make adjustments for a list of new costs with the new boat. I suggest doing the side by site analysis in word or excel. Take your time. this is not hard but it is a process with no short cuts

 

So much stress and so little time? Take care of yourself: let us help you with your task on
[Get Solution] Insurance Premium
Get a 20% Discount on this Paper
Get Help Now

 

So much stress and so little time? We’ve got you covered. Get your paper proofread, edited or written from scratch within the tight deadline.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with Do My Homeworkk
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
Classic English Literature
THANK YOU SO MUCH!!!! :)
Customer 452493, April 19th, 2022
Economics
Thank you!
Customer 452493, March 16th, 2022
Nursing
Great services.
Customer 452443, November 22nd, 2021
Philosophy
Thank you! Will definitely use the writer again.
Customer 452443, October 22nd, 2021
English 101
Great work!
Customer 452443, December 2nd, 2021
Chemistry
Excellent services!
Customer 452443, November 11th, 2021
Economics
THANK YOU! :)
Customer 452493, April 12th, 2022
Chemical Engineering
Amazing. The writer delivered the draft earlier than expected, lol. I am pleased with the work; I hope my supervisor will like it too.
Customer 452443, September 1st, 2021
Leadership Studies
This is great! Thanks a bunch
Customer 452485, March 1st, 2022
Nursing
Good work, professional and beat the deadline. Thank you so very much
Customer 452445, August 24th, 2021
Economics
Although the paper did not make it at the requested time, the writer did reach out to me and asked for a short extension which I was okay with.
Customer 452493, March 16th, 2022
Philosophy
The paper was done to my satisfaction. Thnk you.
Customer 452443, November 18th, 2021
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat