You own a smartphone for which you originally paid $249. A friend recently sold her smartphone (same model and year as yours and in similar condition) on e-Bay for $60. A new version of your smartphone costs $399. Clearly, your smartphone has lost value over time. Which of the following statements is true?

The value of your smartphone dropped by $249 and this represents a sunk cost.

The value of your smartphone dropped by $150 and this represents an opportunity cost.

The value of your smartphone dropped by $150 and this represents an avoidable cost.

The value of your smartphone dropped by $189 and this represents an opportunity cost.

The value of your smartphone dropped by $189 and this represents an avoidable cost.

The value of your smartphone dropped by $249 and this represents an avoidable cost.

The value of your smartphone dropped by $189 and this represents a sunk cost.

The value of your smartphone dropped by $150 and this represents a sunk cost.

The value of your smartphone dropped by $249 and this represents an opportunity cost.