6. Calculating actual cash value Actual Cash Value versus Replacement Cost Coverage The following table gives a partial list of Andrew's significant property (that is, although only the first three items are listed within each category, the totals at the bottom of the table include the prices of unlisted property Items) Item Purchase Price ACV Replacement Cost Furniture Couch set $875 $3,500 3,125 1,000 1,563 500 $3,850 3,750 1,200 Outdoor lawn furniture Dining room table and chairs Appliances TV 750 375 900 125 75 150 DVD player Sound system 1,000 400 1,200 3,375 Furnishings Antique rugs Sculptures Throw blankets and pillows 11,250 10,000 375 12,000 225 13,500 12,000 450 TOTAL: $46,688 $56,026 $30,347 Andrew has a $60,000 HO-1 form Insurance policy. No additional endorsements or fosters have been added to the policy. Therefore, the actual cash value (ACV) of his property covered under this policy and the replacement cost of his property is covered One of his more valuable items is a shotgun he uses for duck hunting. He purchased the shotgun 4 years ago for $1,770, and the total expect is 10 years. The shotgun he uses for duck hunting would cost $1,900 if it was purchased today The actual cash value (ACV) of the shotgun is