Rachel purchased a living room set for $3,500. Rachels home and the contents were destroyed by wildfire. At the time of the loss, the living room set was worth $2,800 due to depreciation. Replacement furniture will cost $3,800. If the living room set was insured on an actual cash value (ACV) basis, how much will Rachel collect for this loss? Assume a $250 deductible applies to the loss.