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15 November, 19:33

Granite Insurance Company"s combined ratio 2 years ago was 1.035. A review of that year"s financial statements showed the company paid $4.5 million in income taxes, Why was the company required to pay income taxes when its underwriting activities produced a loss, as measured by the combined ratio found in question 19?

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  1. 15 November, 19:42
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    The rotio is 2 to one and 2 million dallors
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