A contractor's employee in Georgia earns $52,000 annually. If the workers' compensation rate for construction is $8.50 per $100 of payroll, what is the annual workers' compensation premium for this employee?
Correct Answer
C) $4,420
Premium = ($52,000 ÷ $100) × $8.50 = 520 × $8.50 = $4,420
Why This Is the Correct Answer
Premium = ($52,000 ÷ $100) × $8.50 = 520 × $8.50 = $4,420
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