Multiple Choice
Seneca Timber Lands owns several acres of prime timberland. If the firm harvests the timber today, they could sell it for $4.5 million. However, Seneca believes that the timber will be worth $5.2 million next year. Seneca should exercise the option to:
A) Abandon.
B) Wait.
C) Quit.
D) Retire.
E) Expand.
Correct Answer:
Verified
Correct Answer:
Verified
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