You Have Spent $500 Purchasing and Repairing an Old Car

You have spent $500 purchasing and repairing an old car which you expect to sell for $700 once the repairs are complete. You discover that you need an additional part, which will cost $500, including labour, in order to complete the repairs. You can sell the car as it is now for $300. What should you do?

A) you should never sell something for less than it costs
B) you should cut your losses and take the $300
C) you should complete the repairs and sell the car
D) it does not matter, both actions lead to a loss