Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 04 Dec 2017 My Price 7.00

Chevrolet Silverado

Heath Wilburt purchased a previously owned, two-year-old Chevrolet Silverado short-bed pickup truck for $10,200. Since purchasing the car, he has spent the fol- lowing amounts on parts and labor:

New stereo system                 $1,200 Trick paint                              400

New tires                                800

Total                              $2,400

Unfortunately, the new stereo doesn’t completely drown out the sounds of a grinding transmission. Apparently, the Silverado needs a considerable amount of work to make it reliable transportation. Heath estimates that the needed repairs include the following:

 

Transmission overhaul

$2,400

Water pump

400

Master cylinder work

  1,700

Total

$4,500

In a visit to a used car dealer, Heath has found a one-year-old Dodge Ram pickup truck in mint condition for $12,300. Heath has advertised and found that he can sell the Silverado for only $9,400, and that is assuming that the truck still runs with its engine problems. If he buys the Dodge Ram, he will pay cash, but he would need to sell the Silverado.

 

Required

1.    In trying to decide whether to restore the Silverado or buy the Dodge Ram, Heath is distressed because he already has spent $12,600 on the Silverado. The investment seems too much to give up. How would you react to his concern?

 

 

 

 

 

 

 

2.    Assuming that Heath would be equally happy with the Silverado or the Dodge Ram, should he buy the newer pickup, or should he restore the Silverado?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 04 Dec 2017 07:12 PM My Price 7.00

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