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    total sunk cost and the total opportunity cost

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    Dave is employed by a company that currently pays him $65,000 per year. He owns a new car that he bought for cash of $32,500. Dave is thinking about returning to school to obtain a law degree. Tuition for the school he wants to attend is $28,000 per year, books average $1,350 per year, and room and board average $12,550 per year.

    Determine the total sunk cost and the total opportunity cost for Dave if he decides to go back to law school for 3 years.

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    https://brainmass.com/economics/macroeconomics/total-sunk-cost-total-opportunity-cost-165219

    Solution Summary

    The total sunk cost and the total opportunity costs are determined.

    $2.19