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Pacesetter Company purchased a storage building for its finished goods. They insured the building for $ 1 5 0 , 0 0 0 under a

Pacesetter Company purchased a storage building for its finished goods. They insured the building for $150,000 under a property insurance policy that included an 80 percent coinsurance clause and a $500 deductible. When the building was valued at $200,000 a windstorm caused $40,000 of damage to the building. Assuming wind is a covered peril, how much will Pacesetter receive from their insurer to settle this claim? Remember to consider the deductible. (2 points)

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