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(Solved):   You are interested in selling your old car. A friend has offered to buy it for $3,500. You a ...



 

You are interested in selling your old car. A friend has offered to buy it for $3,500. You are satisfied with the deal because you would not be willing to pay more than $3,000 for it given its current condition. After reviewing the car market, you were sure no one would be willing to pay more than $3,200 for the car. What is the fair market value of the car?
 



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