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Assume you need a new or newer vehicle. Your current vehicle previously cost $12,000 and is 8 years old. The resale value of your current

Assume you need a new or newer vehicle. Your current vehicle previously cost $12,000 and is 8 years old. The resale value of your current vehicle is $2,500. During the last 2 years, the cost of maintenance for the current vehicle has been $2,100 annually (this does not include the cost of fuel). Because it is an older vehicle and does not have a note payable, the insurance coverage is only general liability which costs $65 per month. The cost of parking on campus is $200 annually. No information about the potential costs for the new or newer vehicle is available. Based on this, what information about the current vehicle might be relevant for the purchase decision? Why?

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