Multiple Choice
David has a Homeowners 3 policy that provides $280,000 of insurance on his dwelling,which has a current replacement value of $400,000.Ignoring any deductible,how much will David collect if a kitchen with a replacement value of $24,000 but an actual cash value of $18,000 is destroyed in a fire?
A) $18,000
B) $20,000
C) $21,000
D) $24,000
Correct Answer:
Verified
Correct Answer:
Verified
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