A contractor has 3 employees with annual wages of $35,000, $42,000, and $38,000. If the workers' compensation rate is $2.40 per $100 of payroll, what is the annual premium?
Correct Answer
C) $2,760
Total payroll = $35,000 + $42,000 + $38,000 = $115,000. Premium = ($115,000 ÷ $100) × $2.40 = 1,150 × $2.40 = $2,760.
Why This Is the Correct Answer
Total payroll = $35,000 + $42,000 + $38,000 = $115,000. Premium = ($115,000 ÷ $100) × $2.40 = 1,150 × $2.40 = $2,760.
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Under Hawaii's mechanics lien law (HRS 507), within how many days must a contractor file a lien claim after the last day of work?
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