Question
Fox Foods has building coverage of $750,000. At the time of a $100,000 covered loss, the value of the building was determined to be
Fox Foods has building coverage of $750,000. At the time of a $100,000 covered loss, the value of the building was determined to be $1,000,000. The Declaration shows an 80% for the building and there is a $10,000 deductible. There is no inflation guard on the policy. How much will be paid on this loss? O A. $90,000 OB. $83,750 O C. $79,500 O D. $100,000
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Intermediate Accounting
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