Problem $8-2$ Computing Actual Cash Value Coverage $[$LO$3]$

What amount would a person with actual cash value $($ACV$)$ coverage receive for three$-$year$-$old furniture destroyed by a fire? The furniture cost $$2,520$ originally but would cost $$5,040$ to replace today and had an estimated life of four years. $($Omit the $"$$$"$ sign in your response.$)$

Actual cash value $