A building worth 1,800,000 is insured for 1,200,000, and the policy carries an 80% coinsurance clause. A
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A building worth 1,800,000 is insured for 1,200,000, and the policy carries an 80% coinsurance clause. A fire causes 300,000 in damage. (Round to the nearest dollar.)
a. How much does the insurance company pay if the building is repaired for $300,000? (10 points)
b. How much does the insured pay? (6 points)
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