Douglas obtained a $100,000 insurance policy on his warehouse.The policy contained an 80 percent coinsurance clause.A fire totally damaged the building that had a fair market value of $250,000 at the time of the loss.How much will Douglas recover from his insurance company?
A) $80,000
B) $100,000
C) $125,000
D) $250,000
Correct Answer:
Verified
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