An insured has an insurance policy with a $20,000 aggregate deductible and a $1 million per occurrence limit. The insured experiences the following four losses: (1) $700, (2) $1,000, (3) $20,000, (4) $95,000. Given this information, how much IN TOTAL will the insured receive from her insurer.

		$75,000
		$96,700
		$0
		$116,700
		$20,000

please explain how you reached your answer. thank you