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Charies has decided to open a lawn-mowing company. To do so, he purchases mowing equipment for $5,000, buys gasoline (\$1,60 in gas is tequired to mow each yard), and pays a helper $20.00 per yard. Prior to opening the lawn company. Chades oamed $3,000 as a lfoguard at the neighborhood swimming pool. Assume the money he used to purchase the mowing equpment could otherwise have eamed 5 percent per year in the bank and that the mowing equipment depreciates at 20 percent per year. Charies plans to mow 350 yards per year. What is Charles's impliot cont of producton? Chartes's implicit cost of production is 1 per year. (Enter your renponse as an integec)