Question 4 (6 points) Listen Shemar bought a building two years ago for $700,000. The building is insured under a commercial package policy with limits of $700,000 on the building. The policy is written on a replacement cost basis with an 80% coinsurance requirement and a $2,500 deductible. The current replacement cost of the building is $1 million. If a fire in the building causes damage that will cost $80,000 to repair, what amount will the insurance company pay? a) $67,500 b) $70,000. Oc) $77,500 d) $80,000