Calculating actual cash value Actual Cash Value versus Replacement Cost Coverage The following table gives a partial list of Felix'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). Felix has a $55,000 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 $1770, and the total life expectancy 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 ___________