Question: General Average ( Please do explain and show work how you solved, thank you! ) A ship valued at $1,337,500 is carrying a cargo of

General Average ( Please do explain and show work how you solved, thank you! )

A ship valued at $1,337,500 is carrying a cargo of iron ore valued at $125,000, and a cargo of coal valued at $100,000. The ship is stranded and the captain jettisons what is later determined to be $12,500 worth of iron ore. The stranded ship is towed to port, receives a bill from the tug company of $56,250 and is determined to have suffered $71,875 worth of damage to the ship. The captain declares a general average. How much liability will the company shipping the coal have?

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