Problem: Module 6 Textbook Problem 2 Learning Objective: 6-1 Identify the characteristics of relevant information Norman Dowd owns his own taxi, for which he bought a $12.800 permit to operate two years ago Mc Dowd earns $38,400 a year operating as an independent but has the opportunity to sell the tax and permit for $45.000 and take a position as dispatcher for Carter Taxi Co. The dispatcher position pays $36.000 a year for a 40 hour week. Diving his own taxi, Mr Dowd works approximately 55 hours per week. If he sells his business, he will invest the $45.000 and can earn a 9 percent return. Required a. Determine the opportunity cost of owning and operating the independent business. b. Calculate the comings of Norman Dowd operating as an independent and the earnings of Norman Dowd working as a dispatcher Based solely on financial considerations should Mr Dowd sell the taxi and accept the position as dispatcher? a Opportunity cost Operating as an independent Worling is a dispatcher Should Mr Dowd sell the time and accept the position as dispatcher