Chapter 5-Exercise #4

4.The Jonesville Clinic is an inner-city clinic that provides primary care for indigent persons. Three physicians volunteer 5 hours a week each. Normally, physicians earn $450 per hour, but the clinic is lucky to get their services for free. The clinic hires two nurses annually at $54,000 each. Overhead, including secretarial time, is $45,000 a year. Ace Pharmaceuticals donates $6000 worth of drugs annually, and the First Street Mall donates a small office. The mall's owners could get $1200 monthly in rent for the office. What is the economic cost annually of operating the clinic?