What are your sunk costs, assuming you take the allowance

Reference no: EM133611932

Question: Yesterday, you paid a mechanic $1,400 for installing a new engine in your car, and $320 to have news tire put on the car. The bluebook value your car is $2,000. Today, a car dealer offered you a trade-in allowance of $1,500 toward the purchase of a new automobile priced at $23,000. The new automobile will cost $500 less per year to operate than the old car. What are your sunk costs, assuming you take the allowance and buy the new car?

Reference no: EM133611932

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