Jay Has Spent $500 Purchasing and Repairing an Old Fishing

Multiple Choice

Jay has spent $500 purchasing and repairing an old fishing boat, which he expects to sell for $800. He discovers that he needs an additional repair, which will cost $400. He can sell the boat as it is now for $300. What should he do?

A) He should take the $300.
B) He should never sell something for less than its cost.
C) He should complete the repairs and sell the boat.
D) It doesn't matter which action he takes; the outcome is the same either way.