Question: Looking for a brief-explanation and simple-calculation steps. Please no AI-generated long responses! What did the calculation to reach $3,300 look like? 21. Darla purchased an

Looking for a brief-explanation and simple-calculation steps. Please no AI-generated long

Looking for a brief-explanation and simple-calculation steps. Please no AI-generated long responses!

What did the calculation to reach $3,300 look like?

21. Darla purchased an unendorsed Homeowners 3 policy. While the policy was in force, a fire occurred that destroyed a living room set. The living room set cost $4,000 new, but was 25 percent depreciated when the loss occurred. Replacement furniture will cost $4,400. Assuming no deductible, how much will Darla receive from her insurer? A) $3,000 B) $3,300 C) $3,400 D) $4,400 Answer: B

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