An Elderly Relative Offers to Sell You Their Used 1958

Multiple Choice

An elderly relative offers to sell you their used 1958 Cadillac Eldorado for $50,000.You note that very similar cars are selling on the open market for $90,000.You don't care for classic cars and would rather buy a new Ford Explorer for $35,000.What is the net value of buying the Cadillac?

A) $90,000,since the Cadillac could be sold for this price.
B) $50,000,since the Cadillac could be bought for this price.
C) $40,000,since this is the difference between purchase and resale price of the Cadillac.
D) $35,000,since this is the value of the car that you really want to buy.