A customer's vehicle is totaled 14 months into a 60-month loan. The lender's primary insurance settlement is $21,500, but the outstanding loan balance is $26,800. What does the GAP benefit cover?
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A
The customer's insurance deductible only
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B
The $5,300 difference between the settlement and the loan balance
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C
The full loan balance of $26,800
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D
Only the depreciation that occurred in the first 12 months