After graduation, you face a choice. One option is to work for a firm and earn starting salary of $55,000. Other option is to use $6,000 in savings to start firm. You could earn an interest return of 5% on your savings. You start your own firm. After 1st year, you add up expenses and revenues. Your total includes $10,000 in rent, $1,500 in supplies, $27,000 for staff and $4,500 in expenses. What are your total explicit costs and total implicit costs?