Marshall purchased a standard fire insurance policy on his, Management Theories

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Marshall purchased a standard fire insurance policy on his

Question: Marshall purchased a standard fire insurance policy on his home. Marshall's policy contained a 90 percent coinsurance clause. The home was worth $150,000, and Marshall carried $120,000 worth of insurance on it. A fire broke out in the home, causing $10,000 damage. How much can Marshall collect for the loss?

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