Now assume all the conditions of the loss settlement clause of the HO apply to the case.

Question:

Now assume all the conditions of the loss settlement clause of the HO apply to the case. Assume that John has $100,000 coverage on his $150,000 house, which has been used for only one-eighth of its estimated useful life. How much would John collect for a $40,000 partial loss? How much would be collected for a total loss?