Pacesetter Company purchased a storage building for finished goods. They insured the building for $160,000 under a property insurance policy that included an 80 percent coinsurance clause and a $500 deductible. When the building was valued at $250,000, a windstorm caused $40,000 in damage to the building. Assuming wind is covered peril, how much will Pacesetter receive from their insurer to settle this claim?