Sam’s furniture was destroyed by a fire. The furniture cost $1200 when
Sam’s furniture was destroyed by a fire. The furniture cost $1200 when it was purchased, but similar new furniture now costs $1800. Assuming the furniture was 50 percent depreciated, what is the actual cash value of Sam’s loss?
A) $600
B) $900
C) $1200
D) $1800
ANSWER
Answer: B
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