Question: Your home insurance settles claims using the replacement value method for personal property losses. A microwave is stolen. Two years ago. it cost $150 and

Your home insurance settles claims using the replacement value method for personal property losses. A microwave is stolen. Two years ago. it cost $150 and had an expected life of 7 years. A comparable microwave costs $290 today. What amount will the Insurance company pay?
a. $150

b. $358

c. $247

d. $140

e. $290

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