4 Last year, Jarod left a job that pays $60,000 to run his own bike-repair shop. Jarod's shop charges $65 for a repair, and last year the shop performed 4,000 repairs. Jarod's production costs for the year included rent, wages, and equipment. Jarod spent $50,000 on rent and $100,000 on wages for his employees. Jarod keeps whatever profit the shop earns, but does not pay himself an official wage. Jarod borrowed $25,000 for the shop's equipment at an annual interest rate of 6 percent. Instructions: Round your answers to the nearest dollar and include a negative sign if appropriate. a. What is Jarod's accounting profit? $ 110000 b. What is Jarod's economic profit? $ 48500