Janette's purse was stolen from a restaurant. It was a Louis Vuitton purse with a Louis...

 

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Janette's purse was stolen from a restaurant. It was a Louis Vuitton purse with a Louis Vuitton wallet and cell phone cover. She bought them all at the Louis Vuitton store in Paris 3 years ago. The purse cost $2,500. The wallet and cell phone cover each cost $750 and $500. The purse and wallet have a 10 year life expectancy and the cell phone cover has a 4 year. A similar purse costs $3,000 today. the wallet costs $1,000 and the cell phone cover remains $500. How much will Janette be paid based on actual case value for the cell phone cover? Janette's purse was stolen from a restaurant. It was a Louis Vuitton purse with a Louis Vuitton wallet and cell phone cover. She bought them all at the Louis Vuitton store in Paris 3 years ago. The purse cost $2,500. The wallet and cell phone cover each cost $750 and $500. The purse and wallet have a 10 year life expectancy and the cell phone cover has a 4 year. A similar purse costs $3,000 today. the wallet costs $1,000 and the cell phone cover remains $500. How much will Janette be paid based on actual case value for the cell phone cover?

Answer rating: 100% (QA)

Actual cash value Replacement cost Depreciation Replacement cost of cell phone cover 500 L... View the full answer