Under which of the following rules is actual cash value determined by taking into consideration all relevant factors an expert would use to determine the value of the property?
A) the circumstantial evidence rule
B) the broad evidence rule
C) the property indemnity rule
D) the objective value rule
Question 2
Sam's furniture was destroyed by a fire. The furniture cost 1200 when it was purchased, but similar new furniture now costs 1800. Assuming the furniture was 50 percent depreciated, what is the actual cash value of Sam's loss?
A) 600
B) 900
C) 1200
D) 1800
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