Example 2 Second Report Overdue Limit of Insurance: $100,000 Reporting Period: Monthly (MR) Policy Inception Date: January 1 Date of Last Report: February 28 Value of Last Report: $60,000 Date of Loss: June 20 Amount of Loss: $70,000 If the Amount of Loss had been $40,000, What would be the Amount of Payment? O $100,000 $60,000 O $30,000 $40,000