E7-3 (Static) Identifying Steps in Decision-Making Process and Relevant Costs [LO7-1, 7-2] Assume you need to buy a new vehicle. The junker that you paid $5,000 for two years ago has a trade-in value of $1,500. You are trying to decide whether to trade it for a used 2012 Jeep Wrangler with a market value of $8,000 or a new Hyundai Elantra with a sticker price of $12,995. You plan to drive either vehicle for at least five more years. Required: 2. Indicate whether each of the following factors would be relevant or irrelevant to your decision: (a) The $5,000 you paid for your junker two years ago. (b) The $1,500 trade-in value of your current vehicle. (c) The market value of the Jeep Wrangler. (d) The sticker price of the Hyundai Elantra. (e) The difference in fuel economy for the Jeep and the Hyundai. (1) The cost of on-campus parking. (g) The difference in insurance cost for the Jeep and the Hyundai. (h) The difference in resale value five years from now for the Jeep and the Hyundai. (1) The fact that the Hyundai comes with a warranty while the Jeep does not.