10 You are currently a worker earning $60,000 per year but are considering becoming an entrepreneur. You will not switch unless you earn an accounting profit that is on average at least as great as your current salary. You look into opening a small grocery store. Suppose that the store has annual costs of $150,000 for labor, $40,000 for rent, and $30,000 for equipment. There is a one-half probability that revenues will be $200,000 and a one-half probability that revenues will be $400,000. Instructions: For all parts, enter a loss as a negative number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. a. In the low-revenue situation, what will your accounting profit or loss be? $ -20,000 In the high-revenue situation, what will your accounting profit or loss be? $ 180,000 b. On average, how much do you expect your revenue to be? per year Your accounting profit? per year Your economic profit? per year