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6. Wing bought a car for $5,000 and spent $6,000 restoring the car. At this point he can sell the car for $10,000. As an
6. Wing bought a car for $5,000 and spent $6,000 restoring the car. At this point he can sell the car for $10,000. As an alternative, he can spend an additional $2,000 replacing the engine. With a new engine the car would sell for $11,000. Wing should i) replace the engine and sell the car for $11,000. ii) sell the car now for $10,000. iii) Wing would not buy this car, if he is allowed to make his decision again from the very beginning. a. None is correct. b. ii) ONLY c. i) ONLY d. i) and iii)
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