replacement cost

[MiguelANymn]

current cost of replacing a fixed asset with a new one of equal effectiveness

[SanchoPn 0]

Replacement cost refers to the amount of money it would cost to replace an asset at the current market price. This value considers the cost of purchasing a similar new asset and any associated costs like installation, transportation or setup charges. It is commonly used in insurance policies to determine the payout amount in case of damage or loss of the insured property.