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Question(s) / Instruction(s):

On April 1, 2009 a company paid the $1,450 premium on a three-year insurance policy with benefits beginning on that date. What will be the insurance expense on the annual income statement for the year ended December 31, 2009?

a)            $40.28.

b)            $412.50.

c)            $483.33.

d)            $362.50.

e)            $1450.00.

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