David has a Homeowners 3 policy that provides $280,000 of insurance on his dwelling, which has a current replacement value of $350,000. Ignoring any deductible, how much will David collect if an awning with a replacement value of $24,000 but an actual cash value of $18,000 is destroyed in a fire?

(a) $18,000

(b) $20,000

(c) $11,000

(d) $22,000

(e) $24,000