A Flood Caused $602,000 in Damages to a Building Owned

question 137

Multiple Choice

A flood caused $602,000 in damages to a building owned by Garcia Engineering. The building, valued at $915,000, was insured for $686,000 despite a coinsurance requirement of 90% in their policy. How much of the loss will be covered by the insurance company? (Round your answer to the nearest cent)

• A) $602,000.00
• B) $606,938.65
• C) $501,483.91
• D) $596,000.00