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John just bought a $500,000 house that is in a wildfire zone. If there is a wildfire that totals the house once every 20 years,

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John just bought a $500,000 house that is in a wildfire zone. If there is a wildfire that totals the house once every 20 years, what should the homeowner be willing to pay for an annual insurance premium? Assume the insurance company has no other costs

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