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[See Solution] Larry Smith owns a company that installs wood floors. He is offered $20,000 to install a new floor. The cost of labor and other operating

Question: Larry Smith owns a company that installs wood floors. He is offered $20,000 to install a new floor. The cost of labor and other operating expenses (excluding the wood) are $15,000. He has wood for the job in inventory, it originally cost him $2,000. Price increases have raised the market value of the wood to $6,000, and this value is not expected to change in the future. Should he accept the contract? (10 points)

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