The Jordan Company building was valued at 400,000 . The building was insured for 200,000 . The policy contained an 80 coinsurance clause. A fire caused 180,00 . in damages. Compute the amount of the fire damage the Jordan Company had to pay.
Question 2
The Morgan Company warehouse was valued at 2,400,000 . The building was insured for 960,000 . The policy contained an 80 coinsurance clause. A fire caused 660,00 . in damages. Compute the amount the Morgan Company recovered from the insurance company for fire damage.
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