Steve values his Honda Accord at $10,000, and Jennifer values it at $14,000. If Jennifer buys it from Steve for $11,000, which of the following is true?
A) Steve gains $1,000 of value, and Jennifer gains $3,000 of value.
B) Steve gains $11,000 of value, and Jennifer loses $11,000 of value.
C) Steve gains $10,000 of value, and Jennifer loses $14,000 of value.
D) Steve and Jennifer both gain $11,000 of value.
Correct Answer:
Verified
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