Hollis Goldman owns a building in New York that she has insured on a replacement cost basis for $2.4 million under a fire insurance policy that contains an 80 percent coinsurance clause. Assume that the building has a replacement cost of $4 million. How much will Hollis collect if the building sustains a covered fire loss with a replacement cost of $80,000?

	1.	$50,000
	2.	$60,000
	3.	$66,667
	4.	$80,000