Eric and Susan just purchased their first home, which cost $$150,000.$ They purchased a homeowner's policy to insure the home for $$140,000$ and personal property for $$85,000.$ They declined any coverage for additional living expenses. The deductible for the policy is $$500.$

Soon after Eric and Susan moved into their new home, a strong windstorm caused damage to their roof. They reported the roof damage to be $$22,000.$ While the roof was under repair, the couple had to live in a nearby hotel for three days. The hotel bill amounted to $$520.$ Assuming the insurance company settles claims using the replacement value method, what amount will the insurance company pay for the damages to the roof?

Insurance covered amount