Hillview, Inc. had property valued at $1,560,000 and insured for $936,000. The fire insurance policy contained an 80% coinsurance clause. Hillview suffered a $280,000 fire loss. How much would be paid by the insurance company?

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The Answer of Hillview, Inc. had property valued at $1,560,000 and insured for $936,000. The fire insurance policy contained an 80% coinsurance clause. Hillview suffered a $280,000 fire loss. How much would be paid by the insurance company?