Actual Cash Value versus Replacement Cost Coverage The following table gives a partial list of Darnell'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). Purchase Price ACV Replacement Cost $3,500 $875 3,125 1,563 $3,850 3,750 1,200 1,000 500 Item Furniture Couch set Outdoor lawn furniture Dining room table and chairs Appliances TV DVD player Sound system Furnishings Antique rugs Sculptures Throw blankets and pillows 750 900 125 375 75 400 150 1,000 1,200 11,250 10,000 375 3,375 12,000 13,500 12,000 225 450 TOTAL: $46,688 $30,347 $56,026 Darnell has a $50,000 HO-1 form insurance policy. No additional endorsements or floaters 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 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 life expectancy Is 10 years. The shotgur he uses for duck hunting would cost $1,900 if it was purchased today, The actual cash value (ACV) of the shotgun is