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As a college graduate with a degree in Accounting, you decided to open up your own firm instead of working for someone else. The first

As a college graduate with a degree in Accounting, you decided to open up your own firm instead of working for someone else. The first year's operating results come in as follow: Total Revenue = $250,000 ; Total Variable Costs = $75,000 ; Total Fixed Costs = $25,000. Additionally, you figure that have you decided to work for an accounting firm, your annual salary would have been $120,000. Given the data as presented, what is the firm's Accounting Profit?

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