Lou Ralls insured a building and contents (area 2, class B) for $168,000 each. After 4 months, he canceled the policy. The next day he received a cancellation notice by the company. It stated that he was being canceled due to his previous record. How much does Lou save by this insurance cancellation versus his planned cancellation? (Use Table 20.3. and Table 20.4.)

TABLE 20.3 CLASSIFICATION OF BUILDING CLASS A CLASS B ire insurance rates per $100 f coverage for buildings and ontents Building .28 .33 Building .41 .50 .61 Rating of area Contents .54 60 .65 Contents .35 .50 table_20 4.jpg O Search TABLE 20.4 Percent of annual rate to be charged Percent of annual rate to be charged 52% 61 67 74 81 87 96 100 Time policy Is In force TIme pollcy Is In force Fire Insurance short-rate and cancellation table Days:5 10 20 25 Months: 1 2 3 Months: 5 10 15 27 10 35 12 TABLE 20.3 CLASSIFICATION OF BUILDING CLASS A CLASS B ire insurance rates per $100 f coverage for buildings and ontents Building .28 .33 Building .41 .50 .61 Rating of area Contents .54 60 .65 Contents .35 .50 table_20 4.jpg O Search TABLE 20.4 Percent of annual rate to be charged Percent of annual rate to be charged 52% 61 67 74 81 87 96 100 Time policy Is In force TIme pollcy Is In force Fire Insurance short-rate and cancellation table Days:5 10 20 25 Months: 1 2 3 Months: 5 10 15 27 10 35 12