Use the following to answer questions: 
-(Table: Income and Utility for Tyler) The table Income and Utility for Tyler shows the utility Tyler receives at various income levels, but she does not know what her income will be next year. There is a 40% chance her income will be $20,000, a 40% chance her income will be $30,000, and a 20% chance her income will be $40,000. What is the maximum amount of insurance Tyler would be willing to pay to guarantee an income of $28,000?
Definitions:
Accumulated Earnings
The total net income retained in a company for growth, expansion, and/ or reserve purposes, not distributed as dividends.
Financial Statements
Financial statements are formal records of the financial activities and position of a business, person, or other entity, presented in a structured manner.
Sales
The total revenue generated from goods or services sold by a company within a specific period.
Capital Gains
The income gained when the selling price of assets such as stocks, bonds, or real estate surpasses their original buying price.
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