A year ago, Juan and Julia created a vinegar bottling company (with the JJEV name). Use the following information to calculate the explicit and implicit costs of JJEV during its first year of operations:  Juan and Julia contributed $ 50,000 of their own money to the company.  They bought equipment for $ 30,000.  They hired an employee as a helper with an annual salary of $ 20,000.  Juan quit his previous job, where he earned $ 30,000, and dedicated all his time to work for JJEV.  Julia kept her old job, for which she is paid $30 an hour, but had to give up 10 hours of rest each week (for 50 weeks) to work in JJEV.  Company JJEV bought $ 10,000 worth of goods and services from other companies.  The market value of the equipment at the end of the year was $28,000.  Juan and Julia have a $ 100,000 home loan, for which they pay an annual interest rate of 6 percent.