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THE FINCH FAMILY HOMEOWNERSCONTRACTAssume the Finch family of Charlotte, North Carolina, purchasedtheir home in 1966 for $42,000. Since then, comparable homes intheir neighborhood have most

THE FINCH FAMILY HOMEOWNERSCONTRACTAssume the Finch family of Charlotte, North Carolina, purchasedtheir home in 1966 for $42,000. Since then, comparable homes intheir neighborhood have most recently sold for $84,000. The cost toreplace the home would be $75,000. It is estimated that the houseis one-third depreciated. The Finchs have a $60,000 (Coverage A)Homeowners policy in force, similar to the policy shown in theAppendix. Answer the following...

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