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Larry purchased an HO-5 policy with a face value of $230,000. The current replacement value of the home is $340,000. He suffers a loss of

Larry purchased an HO-5 policy with a face value of $230,000. The current replacement value of the home is $340,000. He suffers a loss of $32,000 from a kitchen fire. What will be the claim settlement, given the fact that Larry has a $500 deductible? (Calculate your answer using four decimal places)

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