Multiple Choice
Stan buys a 1966 Mustang, which he plans to restore and sell. He anticipates that the cost of the car and the repairs will be $15,000 and that he can sell it for $19,000. When he has spent $14,000, he discovers he needs to replace the engine, which will cost $5000. He can sell the car without the new engine for $16,000. What should Stan do?
A) He should complete the repairs and sell the car for $19,000.
B) He should sell the car now for $16,000.
C) He should keep the car for his own use because selling it would be a loss.
D) He should be totally indifferent between finishing the project and selling the car now.
Correct Answer:
Verified
Correct Answer:
Verified
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