1. Bob has his property insured for $200,000 even though the actual cash value of this property is estimated to be $275,000. His insurance agent has advised him that his policy has a 90% coinsurance provision and that he should really increase his limits. Bob is cheap and doesn't want to pay any more in premium so ignores his agent's advice. What will his recovery be if he has the following losses? a. $50,000 b. $200,000 C. $275,000

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