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4. [10] You have been invited by friends to fly to Germany for Octoberfest next fall. For international travel, you apply for a new passport that costs you $97, and it is valid for 10 years. After you receive your passport, your friends tell you that they have decided to stay home because of insufficient funds. You cancel your trip because traveling alone is no fun. How would you classify your passport expense and why?
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Answer #1

Passport cost seems to be sunk cost here for below reasons

If they have decided to go on trip or they have cancelled trip he has to pay same fees.

It is kind of beforehand investment as now or in future he decides to go abroad he is going to use his password many a times.

Therefore Passport fees is Sunk cost

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