Solve the problem.
-Golden Oaks Apartments has a replacement cost of $202,000 and is insured for $121,000. A fire loss is for $14,000. Find the amount of loss paid by the company. Assume an 80% coinsurance clause.
A) $8,400
B) $11,200
C) $14,000
D) $10,483
Correct Answer:
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