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【单选题】
Mike has spent $500 purchasing and repairing an old fishing boat, which he expects to sell for $800 once the repairs are complete. Mike discovers that, in addition to the $500 he has already spent, he needs to make an additional repair, which will cost another $400, in order to make the boat worth $800 to potential buyers. He can sell the boat as it is now for $300. What should he do?A.
He should sell the boat as it is now for $300.
B.
He should keep the boat since it would not be rational to spend $900 on repairs and then sell the boat for $800.
C.
He should complete the repairs and sell the boat for $800.
D.
It does not matter which action he takes; the outcome is the same either way.
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