4. Marwa purchased a laptop two years ago that was recently stolen. A similar laptop computer today can be purchased for $1200. Assuming that the laptop was 40 percent depreciated at the time the theft occurred, what is the actual cash value of the loss? a $480 b. $720 c. $960 d. $1,200 5. The purpose of a deductible in insurance contracts is/are; a. Reduce the premium paid by the insured b. Eliminate small claims that cost too much for the insurer to process c. Reduce moral and attitudinal hazard d. All of the above