Jaynet spends $ 30,000 per year on painting supplies and storage space. She recently received two job offers from a famous marketing firm— one offer was for $ 110,000 per year, and the other was for $ 80,000. However, she turned both jobs down to continue a painting career. If Jaynet sells 25 paintings per year at a price of $ 8,000 each
a. What are her accounting profits?
b. What are her economic profits?