1. Jackson's appliance store was hit by a tornado on 9/15/2022. His building suffered a loss of $145,000. At the time of the loss, the building had a replacement cost of $1,200,000. His commercial policy has the following information: Coinsurance of 80% Deductible of $5,000 Based on this information, answer the following questions: Will Jackson be assessed a coinsurance penalty and if so, how much? Policy term 1/1/2022 to 12/31/2022 Building insured for $1,000,000, replacement cost Inflation guard of 8% What is the loss amount that will be paid to Jackson?

1. Jackson's appliance store was hit by a tornado on 9/15/2022. His building suffered a loss of $145,000. At the time of the loss, the building had a replacement cost of $1,200,000. His commercial policy has the following information: - Policy term 1/1/2022 to 12/31/2022 - Building insured for $1,000,000, replacement cost - Inflation guard of 8% - Coinsurance of 80% - Deductible of $5,000 Based on this information, answer the following questions: Will Jackson be assessed a coinsurancepenalty and if so, how much? What is the loss amount that will be paid to Jackson