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Your job provides a company-owned truck for you to use, and you want to sell your old 1994 Toyota truck. You have just completed

  

Your job provides a company-owned truck for you to use, and you want to sell your old 1994 Toyota truck. You have just completed figuring your Federal income tax, and you need an additional $1000 within the next couple of weeks. The only quick source of cash is to sell your trusty truck. The average local trade-in value for a clean, low mileage 2004 Toyota pickup from the latest Blue Book is $1400. You feel as though you have taken excellent care of the truck which you bought new in 1994; changing the oil yourself every 4,000 miles, tuning it up frequently, adjusting the brakes, and keeping the front end aligned. However, the tires now have only a couple of thousand miles left on them. The actual mileage is 127,000, although the truck's odometer shows only 86,000 miles since it was replaced at 41,000 miles. The truck also has the original factory muffler, tailpipe, and shocks. You have tried to maintain the body by touching up most of the stone chips and by waxing it every six months. However, the right front fender was dented last week while parked at the mall. You have had a "For Sale" sign posted in the truck's back window and have had it advertised for sale in the local newspaper for the last two weeks. A neighbor has been the only seriously interested party. After letting your neighbor test-drive the truck, you decide to try and negotiate a sale for the highest price you can get. With summer fast approaching, you have been looking for a riding lawn mower. You have heard that your neighbors just bought a new mower and wonder what happened to his old one. You had planned to spend around a couple of hundred dollars for a used riding mower. You must leave for work in the next 20 minutes or be late for the start of your shift. If you are late, your pay will be docked, and the boss will be on your case again. Assignment: Develop a complete sales agreement that outlines the purchase price and any other conditions the buyer and seller agree to during the negotiation (assuming you reach agreement). Also, be prepared to respond to any questions presented by the instructor regarding the negotiation

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