Mark owns a building that he insured for $90,000.The replacement cost of the building is $100,000.Mark's property insurance policy has an 80 percent coinsurance clause.Ignoring any deductible,if Mark's building is destroyed by a covered peril,how much will Mark receive from his insurer?
A)$80,000
B)$90,000
C)$101,250
D)$112,500

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The Answer of Mark owns a building that he insured for $90,000.The replacement cost of the building is $100,000.Mark's property insurance policy has an 80 percent coinsurance clause.Ignoring any deductible,if Mark's building is destroyed by a covered peril,how much will Mark receive from his insurer?
A)$80,000
B)$90,000
C)$101,250
D)$112,500

Mark Owns a Building That He Insured for $90,000