Question: Antonio has a $ 5 2 , 0 0 0 HO - 1 form insurance policy. No additional endorsements or floaters have been added to

Antonio has a $52,000 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 custom electric guitar he purchased when his band starting gaining popularity. He purchased the guitar 6 years ago for $2,500, and the total life expectancy is 10 years. The custom electric guitar he purchased when his band starting gaining popularity would cost $2,800 if it was purchased today.
The actual cash value (ACV) of the guitar is .

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