The Dairy Barn has an 80% property coinsurance policy on their building, valued at $60,000. The store suffers $22,000 in fire damage. The owners have insuranced the store for $40,000. How much will the insurance company pay?
$18,260; $60,000 × 0.80 = $48,000; $40,000 ÷ $48,000
Business
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