Chris has a HO-3 policy that provides $300,000 of insurance on his dwelling, which has a current replacement value $500,000. Ignoring any deductible, how much will Chris collect if he suffers a covered loss to the dwelling with a replacement value of $60,000 but an actual cash value of $30,000? He has an 80% coinsurance clause.

Group of answer choices

$30,000

$45,000

$48,000

$60,000