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Charles owns a building that would cost $1,000,000 to build. His property insurance is written on a replacement cost basis. The building is insured for

Charles owns a building that would cost $1,000,000 to build. His property insurance is written on a replacement cost basis. The building is insured for $1,000,000 with a $1,000 dedcutible. A fire causes $100,000 of damage. What will Charless property insurance pay him?

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