An elderly relative offers to sell you their used 1959 Jaguar Mark 9 saloon for $50 000. You note that very similar cars are selling on the open market for $90 000. You don't care for classic cars and would rather buy a new Subaru Outback available to you for $35 000. What is the net value of buying the Jaguar?

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Answer

$50 000, since the Jaguar could be bought for this price.

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$35 000, since this is the value of the car that you really want to buy.

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$40 000, since this is the difference between purchase and resale price of the Jaguar.

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$90 000, since the Jaguar could be sold for this price.

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An elderly relative offers to sell you their used 1959 Jaguar Mark 9 saloon for ...

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