A Rolls-Royce cost $223,000 when you bought it 4 years ago. Due to the enhancements you have made to the vehicle, it was recently appraised at $245,000. If you sell the car, you will pay a $19,600 luxury tax. Currently, you are leasing your Rolls-Royce for $1,200/month to a limousine company and paying average service fees on the car of $220/month. The cars annual registration with the Pennsylvania Department of Motor Vehicles costs $2,700. You are deciding whether to sell the Rolls or use it as your full-time family car. What value should you place on your Roll-Royce when analyzing the option of driving the car full time?

$223,000 $221,280 $245,000 $0 $225,400