Question: A sofa purchased 5 years ago for $2,000 has been destroyed by a tornado.It is 60% depreciated. Today the same sofa costs $2,250. If a

A sofa purchased 5 years ago for $2,000 has been destroyed by a tornado. It is 60% depreciated. Today the same sofa costs $2,250. If a homeowner files a claim for the lost sofa, how much would the insurer pay, assuming there is no deductible?

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